Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
ked12b
New Member

Is a health insurance stipend from a large company ( I have health insurance through my parents, so declined it through employer) reported on W2?

Will a form be mailed from employer and if not, how and where do I report it.
1 Best answer

Accepted Solutions
DanO
New Member

Is a health insurance stipend from a large company ( I have health insurance through my parents, so declined it through employer) reported on W2?

Yes, this is reported on W-2, and whether you purchase insurance with the stipend or not, it will be considered taxable income.  You won't pay Social Security or Medicare taxes on it. Also, your employer won't withhold taxes from the stipend so you would need to account for that extra tax payment on your return.

View solution in original post

1 Reply
DanO
New Member

Is a health insurance stipend from a large company ( I have health insurance through my parents, so declined it through employer) reported on W2?

Yes, this is reported on W-2, and whether you purchase insurance with the stipend or not, it will be considered taxable income.  You won't pay Social Security or Medicare taxes on it. Also, your employer won't withhold taxes from the stipend so you would need to account for that extra tax payment on your return.

Dynamic AdsDynamic Ads
Privacy Settings
v