FREE Trial

Lisa received $1200 in disability pay for the time she was out of work last year due to a fall.

This problem has been solved!
Do you need an answer to a question different from the above? Ask your question!

Question:

Lisa received $1200 in disability pay for the time she was out of work last year due to a fall. Her employer pays for the premiums for the disability insurance as a nontaxable fringe benefit. How and where would Lisa put this on her individual income tax statement 1040?

Expert Answer:

Answer rating: 100% (QA)

Lisa would not have to put the disability insurance payout on her income tax stat View the full answer


answer-question
Related Book For  answer-question
Statistical Techniques in Business and Economics

Statistical Techniques in Business and Economics

ISBN: 978-0078020520

16th edition

Authors: Douglas Lind, William Marchal

See More Books
View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Posted Date: April 09, 2022 23:35:58
See More Questions

Students also viewed these finance questions

Q:
Lisa informed Misty she would buy her a new wardrobe for her upcoming 15th birthday. Essentially, Lisa and Misty have entered into a legal contractual situation, the terms of which are enforceable...
A:
a True M cam seek......
Q:
Lisa holds nonrefundable Federal income tax credits of $65,000. Her regular income tax liability before credits is $190,000, and her tentative minimum tax is $150,000. a. What is the amount of Lisa's...
A:
a Lisas AMT is 0 TMT 150 000 Less Regular income tax liability 190 000 Equals Excess of TMT ove......
Q:
Fringe benefit tax is payable by the _______ Employer Employee Both employer Employee None of these Which of the following assets cannot be depreciated? None of these Machineries Land Building
A:
1 Fringe benefit tax i......
Q:
Select the necessary words from the list of possibilities to complete the following statements. Statements 1. The of SEC registrants selects the company's audit firm. 2. The auditors must assess the...
A:
1 Audit Committee 2 Misappropriation of A......
Q:
The company with the common equity accounts shown here has declared a 10 percent stock dividend at a time when the market value of its stock is $53 per share. What effects on the equity accounts will...
A:
Input Area Stock dividend 10 Price 53 Par value 1 Common stock 290 00......
Q:
The diagram shows an empty container in the form of an open triangular prism. The triangular faces are equilateral with a side of x cm and the length of each rectangular face is y cm. The container...
A:
Click to View...
Q:
When possible, compute the truth values of the simple components in the following compound propositions. If no truth value can be computed, write a question mark (?) under the letter or letters with...
A:
The statement B D represents a logical proposition comparing two variables B a......
Q:
Bennington Home Products sells home products. It buys products for resale from suppliers all over the world. The products are organized into groups. A few examples of these groups are floor care...
A:
a The regional offices meet all the criteria to be managed as investment centers They control sale......
Q:
In this project, you will code the actual stacks and queues. You will not use the STL! You will also code the iterator needed to access a stack or queue. In this project, the stack and queue...
A:
Creating custom implementations of stacks and queues using a doubly linked list in C can be a valuable exercise for understanding data structures and......
Q:
Wyatt Oil owns a major oil refinery in Channelview, Texas. The refinery processes crude oil into valuable outputs in a two-stage process. First, it distills a barrel of crude oil at a variable cost...
A:
a Joint distillation costs when distilling Kuwait Export are 180 million 60 million X 30 2 2 1 billion or 35 per barrel when using physical volume cos......
Q:
Expand F(x) = { x ; 0 8-x ; 4
A:
Click to View...
Q:
Explain what is wrong with the following code and rewrite it so that it works properly. (Note: since this question doesn't require code, you can find the place to answer it in exam_text_answers.txt)...
A:
Click to View...
Q:
Write a code according the information given below: Given a fluid matrix of size n x n, where the value at each cell represents the resistance of the fluid on the cell. Find sum of path with minimum...
A:
Code def find min resistance path matrix Finds the minimum resistance path in a fluid matrix Args ma......
Q:
Write a program that provides the average of 4 values provided by the user. It has to have the following three parts: The specifications for the program The pseudocode for the program The actual...
A:
Specifications for the Program The program should prompt the user to enter four numerical values It......
Q:
Sun Brite has a new pair of sunglasses it is evaluating. The company expects to sell 6,200 pairs of sunglasses at a price of $157 each and a variable cost of $109 each. The equipment necessary for...
A:
To determine the sensitivity of the operating cash flow to a 1 increase in variable costs per pair of sunglasses we need to calculate the change in op......
Q:
You have just been offered a job. Your base salary will be $87,500 per year and the first year's annual salary will be received one year from the day you start working. You receive a bonus...
A:
Let s break down the cash flows Bonus received immediately 12 500 no need to discount as it s receiv......
Q:
(b) Now also build a random forest model. Randomly shuffle the data and partition to use 80% for training and the remaining 20% for testing. Compare and report the test error for your classification...
A:
Salution Griven Huse for training 80 Use for testing 20 Accuracy for dec......
Q:
Which of the following is NOT a magnetic dipole when viewed from far away? a) A permanent bar magnet. b) Several circular loops of wire closely stacked together with the same current running in each...
A:
d Two long straight wires with opposite currents running......
Employment Law An Introduction 3rd Edition - ISBN: 0199604894 - Free Book