Gordon,an employee,is provided group term life insurance coverage equal to twice his annual salary of $125,000 per year.According to the IRS Uniform Premium Table (based on Gordon's age) ,the amount is $12 per year for $1,000 of protection.The cost of an individual policy would be $15 per year for $1,000 of protection.Since Gordon paid nothing towards the cost of the $250,000 protection,Gordon must include in his 2014 gross income which of the following amounts?
A) $1,350.
B) $2,400.
C) $3,000.
D) $3,750.
E) None of these.
Correct Answer:
Verified
Q82: Under the terms of a divorce agreement,
Q84: Thelma and Mitch were divorced. The couple
Q85: Under the terms of a divorce agreement,
Q87: The alimony recapture rules are intended to:
A)Assist
Q92: Turner, Inc., provides group term life insurance
Q93: Tim and Janet were divorced. Their only
Q95: Under the terms of a divorce agreement,
Q96: The alimony rules:
A)Are based on the principle
Q96: Mark a calendar year taxpayer,purchased an annuity
Q97: Jay,a single taxpayer,retired from his job as
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