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James, a cash basis taxpayer, received the following compensation and fringe benefits in the current year: Salary $ 6 6 , 0 0 0 Disability
James, a cash basis taxpayer, received the following compensation and fringe benefits in the current year:
Salary $
Disability income protection premiums
Longterm care insurance premiums
His actual salary was $ He received only $ because his salary was garnished and the employer paid the $ owed on James's credit card. The wage continuation insurance is available to all employees and pays the employee threefourths of the regular salary if the employee is sick or disabled. The longterm care insurance is available to all employees and pays $ per day toward a nursing home or similar facility. What is James's gross income from the above?
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