New answer on: How To Calculate Imputed Income For Life Insurance?

By: Peggy Mace

Peggy Mace — Thu, 12 Sep 2013 22:44:52 +0000

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: https://www.aetna.com/individuals-families-health-insurance/plans-benefits/life/imputed-calc.html.

By: Steve Savant

Steve Savant — Thu, 12 Sep 2013 21:37:12 +0000

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: https://www.lifehelp.com/calc_imputed_income.html