I have a W-2 with an amount in line C, which means that is a "taxable group life insurance (over $50,000) benefit from my employer". How is the tax on that benefit shown in Turbo Tax?
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The cost for group life insurance that exceeds $50,000 is reported as additional income on Schedule 1 Line 21 and is added to your adjusted gross income. It is not taxed or shown separately on your tax return.
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