This year Joseph joined the board of directors.Besides his director's fees,Joseph received the following employee benefits:
$$\begin{array} { l r }
\text { Salary } & \$ 204,000 \
\text { Contribution to qualified pension plar1 } & 25,000 \
\text { Qualified health insurance prerniurns } & 8,000 \
\text { Stock bonus } & 20,000 \
\text { Arrual director's fee } & 15,000 \
\text { Group-tern life insurance premiurns (face } = \$ 40,000 ) & 1,800
\end{array}$$ The stock bonus consisted of 5,000 shares of Bell stock given to Joseph as compensation.At the time of the transfer the stock was listed at $4 per share.What amounts,if any,should Joseph include in gross income this year?

Question

This year Joseph joined the board of directors.Besides his director's fees,Joseph received the following employee benefits:
 $$\begin{array} { l r } 
\text { Salary } & \$ 204,000 \
\text { Contribution to qualified pension plar1 } & 25,000 \
\text { Qualified health insurance prerniurns } & 8,000 \
\text { Stock bonus } & 20,000 \
\text { Arrual director's fee } & 15,000 \
\text { Group-tern life insurance premiurns (face } = \$ 40,000 ) & 1,800
\end{array}$$ The stock bonus consisted of 5,000 shares of Bell stock given to Joseph as compensation.At the time of the transfer the stock was listed at $4 per share.What amounts,if any,should Joseph include in gross income this year?

Quizplus · Accepted Answer

The Answer of This year Joseph joined the board of directors.Besides his director's fees,Joseph received the following employee benefits:
 $$\begin{array} { l r } 
\text { Salary } & \$ 204,000 \
\text { Contribution to qualified pension plar1 } & 25,000 \
\text { Qualified health insurance prerniurns } & 8,000 \
\text { Stock bonus } & 20,000 \
\text { Arrual director's fee } & 15,000 \
\text { Group-tern life insurance premiurns (face } = \$ 40,000 ) & 1,800
\end{array}$$ The stock bonus consisted of 5,000 shares of Bell stock given to Joseph as compensation.At the time of the transfer the stock was listed at $4 per share.What amounts,if any,should Joseph include in gross income this year?

This Year Joseph Joined the Board of Directors The Stock Bonus Consisted of 5,000 Shares of Bell Stock