How To Calculate Imputed Income For Life Insurance?

  1. 61667 POINTS
    Steve Savant
    Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
    The IRS taxes the value on the employer sponsored group benefit term life insurance exceeding $50,000. The taxable portion is the imputed income. The monthly premium for employer sponsored group benefit term life insurance is payroll deducted, i.e. pretax. The amount over $50,000 is added to your taxable salary or imputed income. Here's ING's calculator:

    http://www.lifehelp.com/calc_imputed_income.html
    Answered on September 12, 2013
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  2. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Imputed income is the taxable value of group life insurance over $50,000 that is provided to employees. There are a number of calculators on the internet that will calculate imputed income for you by you inputting several variables. Here is one of them: http://www.aetna.com/individuals-families-health-insurance/plans-benefits/life/imputed-calc.html.
    Answered on September 12, 2013
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