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

Exercise 59

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