1-Where in 1040 form can I report income from group-term life insurance coverage in excess of $50,000 ($132.48), and is reduced by 7 percent contribution ($6,860) to USC’s qualified pension plan, and company matches the taxpayer’s contribution to the plan.

2-Does dividends paid from an S Corporation owned by the taxpayer be added to Dividend income?

3-Is money received from a life insurance policy required to be declared as gross income and does it need to be reported on tax return?

4-Are awards of less than 500 reported on tax return?

Answer rating: 100% (QA)

Solution Dividends are taxable to a corporation as they represent a companys profits Shareholders are also taxed when the receive dividends Although t... View the full answer