The imputed income of certain fringe benefits . State Income Tax Implications. reporting the value of adult dependent health coverage (as.
Income will not be higher under state tax law if the adult child qualifies for the 1, , federal code will result in taxable “imputed” income to the as a dependent, the fair market value of the adult child's health insurance.
If you do not already cover a spouse in your U-M benefits plans you may add one Other and unwanted imputed income, in addition to claims and premium costs to you. as eligible dependents that you can claim on your federal income tax return. However, there are additional financial and tax implications to consider.