Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
K
kiperik
January 26, 2020
Question

My employer offers an incentive where they provide me with a life insurance policy for free. Do I need to claim this as miss. comp. on my pa state return?

  • January 26, 2020
  • 1 reply
  • 0 views
No text available

1 reply

VictoriaD75
VictoriaD75
January 29, 2020

Employers may pay for up to $50,000 of group term life insurance for employees as a tax-free benefit. The cost of insurance about the $50,000 benefit amount should be included in your taxable income.

 

The cost is reported in box 12 of your W2 with code C. You do not need to report it separately. 

 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification