DianeW777
Expert Alumni

Get your taxes done using TurboTax

If you have a W-2 with code M in Box 12, simply enter the information in the W-2. TurboTax knows what to do.

 

M—Uncollected social security or RRTA tax on taxable cost of group term life insurance over $50,000 (former employees only). The tax is being calculated and entered on the appropriate line of Form 1040/1040-SR.

N—Uncollected Medicare tax on taxable cost of group term life insurance over $50,000 (former employees only). See the Instructions for Forms 1040 and 1040-SR.

 

These taxes will show up on Schedule 2, line 8, then transferred to Form 104./1040-SR.

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