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Albert filed his tax return, properly claiming the head of household filing status. Albert's employer paid or provided the following to Carl: Wages $72,000 Fair
Albert filed his tax return, properly claiming the head of household filing status. Albert's employer paid or provided the following to Carl:
Wages | $72,000 |
Fair market value of qualified dependent care services | 4,600 |
Premiums for $50,000 qualified group term life insurance | 450 |
Medical insurance premiums | 1,200 |
How much of this income should Carl report (assume benefits are provided on a nondiscriminatory basis)?
A) $65,000
B) $72,000
C) $76,600
D) $77,050
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