Question
Health Insurance Waiver Through My Employer
My wife and I both work. I chose the health insurance waiver from my job since I am covered under my wife's employer-sponsored health insurance plan. In return, my employer gave me additional payment. However, we are now asked to pay a significant amount of tax on this additional payment which doesn't look realistic. How can I enter this additional payment as a deduction or credit (or in another field) so that we can correctly show it in our tax preparation documents and pay a realistic amount of tax, if required? Thanks.
