Which of the following may be excluded from income?

Question

Quizplus · Accepted Answer

Payment for the loss of an arm is excluded from income because it is considered as compensation for personal injury. Premiums for health insurance paid by the employer are excluded from income because they are considered as a fringe benefit. Reimbursement from the insurance company for a physical examination is excluded from income because it is considered as a reimbursement for medical expenses. Therefore, all the choices are excluded from gross income.

Which of the Following May Be Excluded from Income