Rosen Group has a company health-care plan for all employees.Will,an employee,owns 10% of Rosen.The cost to Rosen for Will's health plan is $2,500.What amount must Will report as income if Rosen is a

Regular
Corporation Partnership

Question

Rosen Group has a company health-care plan for all employees.Will,an employee,owns 10% of Rosen.The cost to Rosen for Will's health plan is $2,500.What amount must Will report as income if Rosen is a
​
Regular
Corporation Partnership

Quizplus · Accepted Answer

In a regular corporation, the cost of health insurance provided by the employer is not considered taxable income to the employee. However, in a partnership, the cost of health insurance for a partner is considered guaranteed payments and must be reported as income.

Rosen Group Has a Company Health-Care Plan for All Employees