Ben's employer offers employees the following benefits. What amount must Ben include in h91is)gross income?

Question

Quizplus · Accepted Answer

Ben must include the cost of the group term life insurance over $50,000 in his gross income, which is $2,000 ($7,000 - $5,000). He must also include the value of the personal use of the company car, amounting to $8,600. Therefore, Ben must include a total of $10,600 in his gross income.

Ben's Employer Offers Employees the Following Benefits