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Frank received the following benefits from his employer this year. What amount must Frank include in his gross income? Benefits Received Amount Salary $ 71,750
Frank received the following benefits from his employer this year. What amount must Frank include in his gross income?
| Benefits Received | Amount | ||
| Salary | $ | 71,750 | |
| Health insurance | 7,700 | ||
| Group term life insurance (face $50,000) | 2,490 | ||
Multiple Choice
- $71,750.
- $79,450.
- $74,240.
- $81,940.
- Zero - these benefits are excluded in gross income.
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Governmental Accounting Auditing And Financial Reporting
Authors: Stephen J. Gauthier
1st Edition
0891252754, 978-0891252757
