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ces Problem 5-67 (LO 5-3) (Algo) Terry was ill for three months and missed work during this period. During the illness, Terry received $7,000
ces Problem 5-67 (LO 5-3) (Algo) Terry was ill for three months and missed work during this period. During the illness, Terry received $7,000 in sick pay from a disability insurance policy. What amounts are included in Terry's gross income under the following independent circumstances? Note: Leave no answer blank. Enter zero if applicable. Required: a. Terry has disability insurance provided by his employer as a nontaxable fringe benefit. Terry's employer paid $5,070 in disability premiums for Terry this year. b. Terry paid $5,070 in premiums for his disability Insurance this year. c. Terry's employer paid the $5,070 in premiums for Terry, but Terry elected to have his employer include the $5,070 as compensation on Terry's W-2 d. Terry and his employer share the cost of the disability insurance. Terry's employer paid $3,600 in disability premiums for Terry this year as a nontaxable fringe benefit. and Terry paid the remaining $1,470 of premiums from his after-tax salary Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar amount. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Terry has disability insurance provided by his employer as a nontaxable fringe benefit. Terry's employer paid $5,070 in disability premiums for Terry this year. Amount included in Gross Income < Prev 11 of 11 Next >
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