Originally Posted by
Left Coast MD11
Well, it doesn't have a negative number, but, I subtracted my taxes + deductions from my gross and I am short the exactly the amount of the "excess life".
I check with a friend and his was the same thing. Can you guys look at yours on the green screen and see if you are short too?
The ExcessLife # (The # sign is important) is not paid to you. At the bottom of your paystub, the # sign is explained as Non Cash Earnings & Benefits. It is shown on your paystub as an accounting item so that you are taxed for it. You can't add it to the other items to come up with your gross. The number is added to your Fed Tax Wages.
The money isn't being deducted from your paycheck because it isn't being paid in the first place.
Look at your paystub, not the green screen, and see what the Gross Pay line says. That number should equal all of the line items under the "this period" column excluding ExcessLife #.
So, if Exceesslife # is $75 and your BLG is $5000, then the Gross Pay line should say $5000.
On your W-2, Excess Life is reported in Box 12 with a C code which is for Group Term Life Insurance in Excess of $50,000