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Level 4
February 25, 2021
Solved

taxability of group life insurance

  • February 25, 2021
  • 3 replies
  • 24 views

client became disabled in 2019....for 2020 his employer sent him a w-2, showing nothing in box 1, but

$7,276 in boxes 3 and 5.   In box 12b, $ 451.11 for uncollected soc sec tax and $ 105.50 in box 12c for uncollected medicare tax.

box 12a shows $ 6,918.96 as the return of group term life policy.

the issue is proseries is telling me i can't efile this because of no amount in box 1

no idea how to handle this....any help would be greatly appreciated:

thanks

 

 

 

 

 

 

 

 

 

 

 

 

This topic has been closed for replies.
Best answer by IRonMaN

Don't enter the W-2 into the software.

3 replies

IRonMaN
IRonMaNAnswer
Level 15
February 25, 2021

Don't enter the W-2 into the software.

Slava Ukraini!
Level 4
February 25, 2021

love the answer!   i'll go with that.

 

you made my day with your humor!! 

 

have a great day:

IRonMaN
Level 15
February 25, 2021

You betcha!

Slava Ukraini!