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How do I set up a payroll item that should go in Box 12 with Code C on the W2? It is the taxable income on life insurance in excess of $50,000.00.

o I set up the payroll item for the taxable income to an employee for Life Insurance in excess of $50,000.00 that should go in Box 12 with Code C on the employees W2?

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QuickBooks Team

Re: How do I set up a payroll item that should go in Box 12 with Code C on the W2? It is the taxa...

Pleased to have you here, @Christy61.

 

I'd be delighted to help walk you through in setting up your Group-Term Life Insurance payroll item.

 

Here's how:

  1. Go to the Employees button.
  2. Choose the name of the specific employee.
  3. Under Pay box, click Edit button.
  4. Click Show all pay types link.
  5. Checked Group-Term Life Insurance.
  6. Enter the amount of the taxable income.
  7. Hit Ok.

That should do it! You may check out the articles below for additional insights:

Feel free to visit the Community page if you have other questions about setting up your payroll items. I'm always here to help. Wishing you continues success.

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