Andres has received the following benefits this year:

Salary $92000

Contribution to qualified pension plan $10200

Qualified health insurance premiums $8400

Year-end bonus $15000

Group - term life insurance premiums (face=$40000) 1750

whole life insurance premiums (face=$100000) 2420

Disability insurance premiums $ 1800

Besides these benefits, Andres missed work for two months due to an illness. During his illness, Andres received $6500 in sick pay from a disability insurance policy. Assume Andres has disability insurance provided by his employer as a nontaxable fringe benefit. What amount if any must Andres include in gross income this year?

Answer rating: 100% (QA)

ANSWER IS To determine the amount Andres must include in gross income this year we need to assess ea... View the full answer