Question
Which of the following statements regarding ridesharing fringe benefits is FALSE? A. California law does not allow an income exclusion for compensation or the fair
Which of the following statements regarding ridesharing fringe benefits is FALSE?
A. California law does not allow an income exclusion for compensation or the fair market value of benefits received for participation in any California ridesharing arrangement.
B. California law provides an income exclusion for compensation or the fair market value of benefits received for participation in a California ridesharing arrangement, such as subsidized parking.
C. Enter the amount of ridesharing benefits received and included in federal income on line 1h, column B as a subtraction to income.
D. Under California law, there are no monthly limits for the exclusion of qualified transportation benefits and California's definitions are more expansive.
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