1040 Form Group Term Life Insurance?

Yo do not have to do any thing about this amount that is the box 14 of your W-2 because this $$ amount is included in the Box 1 Gross wages earnings for the tax year and this $$$$$$ is then entered the page 1 Line 7 of the 1040 tax form for the tax year.

If you will look at the instructions that are on the back of one the copies of the W-2 that you have in your hand you should be able to find the instructions that are available to you for this purpose or go to the www.irs.gov website and use the search box for W-2 and then choose instruction and this is what the employer payroll deparment use in order to correctly fill out the W-2 form. Box 14 is for your information only form your employer about some other amounts that they want you to know about.

http://www.irs.gov/instructions/iw2w3/ch01.html#d0...

Box 14—Other. If you included 100% of a vehicle's annual lease value in the employee's income, it also must be reported here or on a separate statement to your employee. You also may use this box for any other information that you want to give to your employee. Label each item. Examples include state disability insurance taxes withheld, union dues, uniform payments, health insurance premiums deducted, nontaxable income, educational assistance payments, or a member of the clergy's parsonage allowance and utilities. In addition, you may enter the following contributions to a pension plan: (a) nonelective employer contributions made on behalf of an employee, (b) voluntary after-tax contributions (but not designated Roth contributions) that are deducted from an employee's pay, (c) required employee contributions, and (d) employer matching contributions.

If you are reporting prior year contributions under USERRA (see the TIP before Code D on page 10 and Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA) makeup amounts to a pension plan on page 6), you may report in box 14 makeup amounts for nonelective employer contributions, voluntary after-tax contributions, required employee contributions, and employer matching contributions. Report such amounts separately for each year. Railroad employers, see page 6.

Hope that you find the above enclosed information useful. 09/20/2011

The amounts paid by your employer for coverage of $50k or less have no tax consequences to you. The premiums paid for coverage in excess of $50k will be included on your W-2 as wages paid. The amount that represents taxable income to you should also be on every pay stub as well. I'm looking at the $2.89 per week payment for excess coverage on my pay stub right now.

The amounts you report would be on the W-2. You use the W-2 to file and the W-2 instructions tell you where to list the amounts.

It will be included on your W-2, and you will report it as W-2 income. You don't have to do anything special to account for it.

What if it is not on any W2 but I have been told how much it is and instructed that it is my responsibility to pay it even without this form. Where do I put it?

that would be reported on your W-2 and the line it is on will indicate where it is to be reported on your 1040

Honestly, I have a different opinion

You do not do anything. the information is on your W2 and is already accounted for.