Frank received the following benefits from his employer this year. What amount must Frank include in his gross income? $$\begin{array} { | l | r | }
\hline \text { Benefits Received } & \text { Amount } \
\hline \text { Salary } & \$ 54,450 \
\hline \text { Health insurance } & 2,900 \
\hline \text { Group term life insurance } ( \$ 50,000 ) & 1,800 \
\hline
\end{array}$$

Question

Frank received the following benefits from his employer this year. What amount must Frank include in his gross income? $$\begin{array} { | l | r | } 
\hline \text { Benefits Received } & \text { Amount } \
\hline \text { Salary } & \$ 54,450 \
\hline \text { Health insurance } & 2,900 \
\hline \text { Group term life insurance } ( \$ 50,000 ) & 1,800 \
\hline
\end{array}$$

Quizplus · Accepted Answer

Frank must include his salary of $54,450 in his gross income. Health insurance and group term life insurance up to $50,000 are generally not included in gross income.

Frank Received the Following Benefits from His Employer This Year