An employer-provided vehicle is often made available for personal use by an executive.The personal use represents additional compensation to the executive.The personal use is treated as a taxable fringe benefit and is included as additional compensation on the executive's Form ____.
A)1099-Misc.
B)1099-R.
C)K-1.
D)W-2.

Question

Quizplus · Accepted Answer

The personal use of an employer-provided vehicle is treated as a taxable fringe benefit and is included as additional compensation on the executive's W-2 form. It is not reported on a 1099-Misc, 1099-R, or K-1 form.

An Employer-Provided Vehicle Is Often Made Available for Personal Use