Certified Payroll Specialist In ADP Workforce Now®

An employee's group term life insurance coverage exceeds $50,000. How is the imputed income reported?

Added to taxable wages on the W-2 in Box 12 with code C Excluded from all taxes as a fringe benefit Reported separately on Form 1099-MISC Deducted as a pre-tax benefit on the paystub

Correct Answer:

Added to taxable wages on the W-2 in Box 12 with code C

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