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Imputed income

I live in Oregon. What is the formula my employer uses to tax my imputed income? They seem to be deducting the entire monthly premium from my paycheck.

 

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1 Reply
MaryK4
Employee Tax Expert

Imputed income

The imputed income equals the Fair Market Value (FMV) of the health coverage your employer provides to your partner.  This means that you report income and pay taxes on not only the premium you pay for your partner, but also the amount that your employer pays for the coverage.  If what you see is close to the total you have deducted, it means your employer pays approximately half of your total premiums.   

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