Federal Tax Research 10th Edition by Steven Gill, Gerald Whittenburg, Roby Sawyers, Debra Sanders, William Raabe

Exercise 51

Emily's department is required to attend a business meeting in Orlando, Florida. To reduce the costs, the employer charters a 16-passenger plane. Because only 10 employees are attending the meeting, Emily is permitted to bring her husband and daughter along on the flight. How much income will Emily recognize for this fringe benefit