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G
gailko06
July 15, 2024
Question

Has anyone included PS58 costs in their tax returns? Thanks

  • July 15, 2024
  • 1 reply
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1 reply

J
JotikaT2
July 15, 2024

If the PS58 costs are for the cost of group-term life insurance beyond $50,000 of coverage, then your employer should have reported it on your W-2 as part of your compensation as a fringe benefit.  This information would then be reported on your tax return when you enter your wages.

 

Please see Table 2-1 as well as the footnotes for more details under the section titled Group-term life insurance coverage.

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G
gailko06 Author
July 17, 2024

Thank you for the information. But would I be able to send you a separate email to explain my situation.  Thank you, Gail

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