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Returning Member
posted Jun 1, 2019 12:05:30 PM

How is a value that appears in W-2 line C used in Turbo Tax? Does it impact the tax owed?

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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2 Replies
Intuit Alumni
Jun 1, 2019 12:05:32 PM

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.

Returning Member
Jun 1, 2019 12:05:32 PM

But Turbo Tax does not transfer that amount from where it is entered on the W-2 input to Schedule 1 Line 21 of the return as I would have expected.  Should it have done so?