Question

The taxable and tax amounts for ER paid GTL premiums for coverage over $50,000 are reported on the W-2 as:

A. Excluded from Box 1, included in Boxes 3 and 5, Box 12 coded "C"
B. Included in Boxes 1, 3 and 5, Box 12 Code "C"
C. Included in Boxes 1, 2, 3, and 5, Box 12 coded "G"
D. Excluded from Box 1, included in Boxes 3 and 5, Box 12 coded "G"

Answer 1

The taxable and tax amounts for ER paid GTL premiums for coverage over $50,000 are reported on the W-2 as A. Excluded from Box 1, included in Boxes 3 and 5, Box 12 coded "C".

Correct option is A.

Step-by-step explanation:

The taxable and tax amounts for ER paid GTL premiums for coverage over $50,000 are reported on the W-2 as:

A. Excluded from Box 1, included in Boxes 3 and 5, Box 12 coded "C"