Question
Andres has received the following benefits this year: Salary $92000 Contribution to qualified pension plan $10200 Qualified health insurance premiums $8400 Year-end bonus $15000 Group
Andres has received the following benefits this year:
Salary $92000
Contribution to qualified pension plan $10200
Qualified health insurance premiums $8400
Year-end bonus $15000
Group - term life insurance premiums (face=$40000) 1750
whole life insurance premiums (face=$100000) 2420
Disability insurance premiums $ 1800
Besides these benefits, Andres missed work for two months due to an illness. During his illness, Andres received $6500 in sick pay from a disability insurance policy. Assume Andres has disability insurance provided by his employer as a nontaxable fringe benefit. What amount if any must Andres include in gross income this year?
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Concepts In Federal Taxation
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