Imputed Income — Payroll Definition

Imputed Income paystub meaning: The taxable value of non-cash benefits your employer provides (e.g., group life insurance over $50K). Codes: IMPTD / GTL.

The taxable value of non-cash benefits your employer provides (e.g., group life insurance over $50K).

Imputed income is the value of non-cash compensation or benefits that must be included in an employee's taxable income. The most common example is group term life insurance coverage exceeding $50,000 — the premium cost above $50,000 in coverage is added to your taxable wages. You'll see it on your paystub as a "phantom" earning that increases your gross pay but doesn't actually put money in your pocket. Other examples include personal use of a company car and gym membership reimbursements.

Earnings lines should identify the applicable rate, hours or units, current amount, and year-to-date total. Reconcile them with time records, the pay period, the employment agreement, and the employer-issued statement.

When this term appears on a statement, read its label, current amount, year-to-date amount, pay-period context, and any adjacent rate or hours together. Resolve a mismatch with the original issuer or the cited authority rather than changing a record to force a preferred result.