Yes, TurboTax will use the codes (M & N) to accurately populate the tax on your 1040 as indicated by @KathrynG3.
- Code M: Uncollected social security or RRTA tax on taxable cost of group-term life insurance over $50,000 (former employees only). See "Other Taxes" in the Form 1040 Instructions.
- Code N: Uncollected Medicare tax on taxable cost of group-term life insurance over $50,000 (former employees only). See "Other Taxes" in the 1040 Instructions.
- TurboTax automatically pulls this amount to be included with the Total Tax
This tax is common and usual for reporting on the W-2 by your employer.
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