Question: ANSWER THE FOLLOWING QUESTION WITH A CLEAR SOLUTION AND FORMAT. Problem 10.113TH MONTH PAY AND OTHER BENEFITS Jonathan, a purely employed taxpayer, received the following

ANSWER THE FOLLOWING QUESTION WITH A CLEAR SOLUTION AND FORMAT.

received the following during the taxable year. 13th Month Pay (Midyear Bonus)

Problem 10.113TH MONTH PAY AND OTHER BENEFITS Jonathan, a purely employed taxpayer, received the following during the taxable year. 13th Month Pay (Midyear Bonus) 14th Month Pay (Yearend Bonus) Christmas Gift Taxable de Minimis Benefits Determine the taxable 13th Month Pay and Other Benefits given that Jonathan is: 48,000 48,000 5,000 20,000

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