Question
Terry was ill for three months and missed work during this period. During his illness, Terry received $4,200 in sick pay from a disability insurance
Terry was ill for three months and missed work during this period. During his illness, Terry received $4,200 in sick pay from a disability insurance policy. |
What amounts are included in Terrys gross income under the following independent circumstances? (Leave no answer blank. Enter zero if applicable.) |
a. | Terry has disability insurance provided by his employer as a nontaxable fringe benefit. Terrys employer paid $1,540 in disability premiums for Terry this year.
amount included________
|
d. | Terry has disability insurance whose cost is shared with his employer. Terrys employer paid $1,000 in disability premiums for Terry this year as a nontaxable fringe benefit, and Terry paid the remaining $540 of premiums from his after-tax salary. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.)
amount included________ |
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