Each of the numbered items below is accorded only one of the following lettered treatments. Use the existing law as it applies to the current year, match the best answer to the statements below.
-Dick lives rent-free in an apartment (value $675/month) in a complex where he is the apartment manager and must be on the premises to handle problems.

Question

Quizplus · Accepted Answer

The value of the apartment provided to Dick as part of his employment, where his presence on the premises is a condition of his employment, is fully excluded from gross income under the current tax law. This is considered a lodging on business premises for the convenience of the employer.

Each of the Numbered Items Below Is Accorded Only One