DawnC
Employee Tax Expert

Get your taxes done using TurboTax

Group Term Life Insurance.  If your former employer provided more than $50,000 of group-term life insurance coverage during the year, the amount included in your income is reported as wages in box 1 of Form W-2.    Wages are earned income.

 

Roth IRA contributions are nondeductible.   Traditional IRA contributions can be tax-deductible.  

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