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1. An example of a qualified benefit is an employer-subsidized cafeteria. True or false 2. All of the following income items are includible in an

1. An example of a qualified benefit is an employer-subsidized cafeteria. True or false

2. All of the following income items are includible in an employee's gross income except:

A) Severance pay for cancellation of employment

B) Unemployment compensation

C) Payments from employer while sick or injured

D) Medical insurance premium paid by employer for employee and spouse

F) Moving expense reimbursement

3. Don Driller, who is 56 years old, is provided with $120,000 of group-term life insurance by his employer. Based on the IRS uniform premium cost table, the total annual cost of a policy of this type is $9.00 per $1,000 of coverage. Don's required contribution to the cost of the policy is $2.00 per $1,000 of coverage per year. Don was covered for the full 12 months of 2020. How much of the cost must Don include in his income for 2020?

A) $0 B) $390 C) $630 D) $840

4. Victor and Claire Anet, residents of a separate property state, were divorced in February 2017 . Specific requirements of the divorce decree and Mr. Anet's performance of those requirements follow: Transfer title in their personal residence to Claire as part of a lump-sum property settlement. On the day of the transfer, Victor's basis in the house was $38,000, the fair market value was $42,000, and the property was subject to a mortgage of $20,000. Make the mortgage payments on the 20-year mortgage. He paid $2,500 from March 1, 2020, through December 31, 2020. Repay to Claire a $3,000 loan, which he did on April 1, 2020 . Pay Claire $700 per month of which $200 is designated as child support. He made ten such payments in 2020. Assuming that Claire has no other income, her 2020 gross income should be:

A) $7,500 B) $9,500 C) $12,500 D) $16,000

I need help with these questions urgently, please!!

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