Iest id $29307568$

Question #$24$ of $45$

Shelton Labs pays the premiumis for individual noncancelable disability insurance policies for its top $5$ key executives. What are the tax consequences it its CEO, Sheila Meyers, suffers a disabling injury and receives $$10,000$ in monthly disabulity income payments?

$$ A$)$ Sheila can exclude the monthly disabulity benefits from income.

B$)$ Shellon Labs can take an income tax deduction equal to the amount of monthly disability payments.

C$)$ Sheila must include the monthly benefits in income.

D$)$ There are no tax consequences for either Shella or Shelton Labs