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eBook Print Item Problem 5-37 (Algorithmic) (LO. 2) Kevin, age 67, is an officer of Blue Company, which provides him with the following nondiscriminatory fringe

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eBook Print Item Problem 5-37 (Algorithmic) (LO. 2) Kevin, age 67, is an officer of Blue Company, which provides him with the following nondiscriminatory fringe benefits in 2020: Hospitalization Insurance premiums for Kevin and his dependents. The cost of the coverage for Kevin is $2,350 per year, and the additional cost for his dependents is $5,000 per year. The plan has a $2,000 deductible, but his employer contributed $1,500 to Kevin's Health Savings Account (HSA). Kevin withdrew only $500 from the HSA, and the account earned $40 of Interest during the year. Insurance premiums of $500 for salary continuation payments. Under the plan, Kevin will receive his regular salary in the event he is unable to work due to illness, Kevin collected $5,600 on the policy to replace lost wages while he was ill during the year. Kevin is a part-time student working on his bachelor's degree in engineering. His employer reimbursed his $4,950 tuition under a plan available to all full-time employees. For each of the following items, enter the amount to be included in Kevin's gross income. If an amount is zero, enter "O". Amount Included a. Hospitalization insurance premiums for Kevin and his dependents. 0 840 X b. Insurance premiums of $500 for salary continuation payments. c. The $5,600 Kevin collected on the salary continuation policy to replace lost wages while he was ill during the year. d. Tuition reimbursement under a plan available to all full-time employees. 4,500 X 0 Feedback Check My Work

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