Sunday, November 14, 2010

Is health insurance held out of paycheck taxable?

I am still waiting on my W2's but was looking at my year end pay-stubs. I have 2 of them. They both have health insurance held out but one of them says YTD gross and under that says total current taxable wages which has my health insurance subtracted from the gross amount. The second paycheck only has gross amount. So what would be the right amount?
--------------------
Depends upon whether or not the health insurance was part of a Section 125 benefits plan. Most are but not all are. Your W-2s will reflect the correct amounts; you must wait for them before you can file.
Source

No comments:

Post a Comment