Rocket Co., an S corporation, pays single-coverage health insurance premiums of $17,000 per year. Philip is a
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Rocket Co., an S corporation, pays single-coverage health insurance premiums of $17,000 per year. Philip is a 1% shareholder-employee in Rocket. On Philip’s behalf, Rocket pays Philip’s family coverage under the health insurance plan. What amount of insurance premiums is includible in Philip’s gross income?
a. $17,000
b. $170
c. $17
d. $0
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d 0 Health insurance premiums and other fringe benefits paid for employee...View the full answer
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Related Book For 
South Western Federal Taxation 2018 Corporations Partnerships Estates And Trusts
ISBN: 1389
41st Edition
Authors: William H. Hoffman, William A. Raabe, James C. Young, Annette Nellen, David M. Maloney
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