Elisa is covered by a $200,000 group term life insurance policy of which her daughter is the sole beneficiary. Elisa's employer pays the entire premium for the policy, for which the uniform annual premium is $0.75 per $1,000 per month of coverage. How much, if any, of the cost of the group term life insurance is excluded from Elisa's gross income on an annual basis? $0 $450 $1,350 $1,800
Elisa is covered by a $200,000 group term life insurance policy of which her daughter is the sole beneficiary. Elisa's employer pays the entire premium for the policy, for which the uniform annual premium is $0.75 per $1,000 per month of coverage. How much, if any, of the cost of the group term life insurance is excluded from Elisa's gross income on an annual basis? $0 $450 $1,350 $1,800
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 6P
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Elisa is covered by a $200,000 group term life insurance policy of which her daughter is the sole beneficiary. Elisa's employer pays the entire premium for the policy, for which the uniform annual premium is $0.75 per $1,000 per month of coverage. How much, if any, of the cost of the group term life insurance is excluded from Elisa's gross income on an annual basis?
$0
$450
$1,350
$1,800
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT