Sharisma suffered a serious stroke and was admitted to a nursing home for 140 days. Nursing home charges, including physician fees and other related expenses were $63,000. Under Sharisma's long- term care insurance contract, she received reimbursements of $56,000. How much of the $56,000 reimbursement must be included in Sharisma's gross income in 2018?
A) $56,000
B) $5,600
C) $7,000
D) $0
Correct Answer:
Verified
Q709: Sarah receives a $15,000 scholarship from City
Q710: Derrick was in an automobile accident while
Q711: Which one of the following fringe benefits
Q712: Which of the following statements regarding qualified
Q713: John is injured and receives $16,000 of
Q715: Hope receives an $18,500 scholarship from State
Q716: Nelda suffered a serious stroke and was
Q717: Bret carries a $200,000 insurance policy on
Q718: Tonya's employer pays the full premium on
Q719: Linda was injured in an automobile accident
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents