Lee is a 48-year-old nurse who earns an annual salary of ($87,000.) His employer provides group-term life
Question:
Lee is a 48-year-old nurse who earns an annual salary of \($87,000.\) His employer provides group-term life insurance coverage equal to twice the annual salary for all employees. The annual amount of income for each \($1,000\) of taxable insurance coverage for an individual 48 years old is \($1.80.\) How much gross income must Lee report for this benefit?
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Lee must report 223 ...View the full answer
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