Question
Gil ( single , age 2 4 ) is an employee of ABC, Inc., and he receives several fringe benefits and retirement benefits. His employer
Gil single age is an employee of ABC, Inc., and he receives several fringe benefits and retirement benefits. His employerprovided health insurance plan is considered a highdeductible plan, so his employer has given him access to a health savings account. During the current year, Gil paid $ per month for his health insurance and contributed $ per month to his health savings account through salary withholding ABC, Inc. covered the remaining $ of his monthly health insurance premium, contributed $ per month to Gil's health savings account, and paid $ per month for Gil's $ groupterm life insurance. Gil contributed $ per month to ABC, Inc.s traditional k plan through salary withholding which ABC, Inc. matched at a rate of $ per dollar contributed. Assuming Gil's salary for the current year is $ and nothing else affects his taxable wages, what amount will be reported on Box of Form W
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate the amount reported in Box 1 of Form W2 we need to determine Gils taxable wages Gils ta...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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