Andres has received the following benefits this year. $$\begin{array} { l r }
\text { Salary } & \$ 92,000 \
\text { Contribution to qualified pension plan } & 10,200 \
\text { Qualified health insurance premiums } & 8,400 \
\text { Year-end bonus } & 15,000 \
\text { Group-term life insurance premiums (face } = \$ 40,000 ) & 1,750 \
\text { Whole life insurance premiums (face } = \$ 100,000 ) & 2,420 \
\text { Disability insurance premiums } & 1,800
\end{array}$$ Besides these benefits Andres missed work for two months due to an illness. During his illness Andres received $6,500 in sick pay from a disability insurance policy. Assume Andres has disability insurance provided by his employer as a nontaxable fringe benefit. What amount, if any, must Andres include in gross income this year?

Question

Andres has received the following benefits this year. $$\begin{array} { l r } 
\text { Salary } & \$ 92,000 \
\text { Contribution to qualified pension plan } & 10,200 \
\text { Qualified health insurance premiums } & 8,400 \
\text { Year-end bonus } & 15,000 \
\text { Group-term life insurance premiums (face } = \$ 40,000 ) & 1,750 \
\text { Whole life insurance premiums (face } = \$ 100,000 ) & 2,420 \
\text { Disability insurance premiums } & 1,800
\end{array}$$ Besides these benefits Andres missed work for two months due to an illness. During his illness Andres received $6,500 in sick pay from a disability insurance policy. Assume Andres has disability insurance provided by his employer as a nontaxable fringe benefit. What amount, if any, must Andres include in gross income this year?

Quizplus · Accepted Answer

The Answer of Andres has received the following benefits this year. $$\begin{array} { l r } 
\text { Salary } & \$ 92,000 \
\text { Contribution to qualified pension plan } & 10,200 \
\text { Qualified health insurance premiums } & 8,400 \
\text { Year-end bonus } & 15,000 \
\text { Group-term life insurance premiums (face } = \$ 40,000 ) & 1,750 \
\text { Whole life insurance premiums (face } = \$ 100,000 ) & 2,420 \
\text { Disability insurance premiums } & 1,800
\end{array}$$ Besides these benefits Andres missed work for two months due to an illness. During his illness Andres received $6,500 in sick pay from a disability insurance policy. Assume Andres has disability insurance provided by his employer as a nontaxable fringe benefit. What amount, if any, must Andres include in gross income this year?

Andres Has Received the Following Benefits This Year Besides These Benefits Andres Missed Work for Two Months Due