We have an employee who is adding a 25-year-old dependent to our group medical insurance.  It is my understanding that the FMV of this benefit is taxable to the employee.

I'm trying to set up a non-cash compensation in Blackbaud to report this benefit, and I'm stuck on what to debit and credit on the GL Distribution tab.  I'm also not sure if the amount of the non-cash contribution should be entered in Box 14 on the W-2. 

 Has anyone else had to do this?

Thanks,

Marlene