Sue Wong, age 56, works for Auto World. Her employer purchases for her a $100,000 group-term life insurance policy. Sue Wong is required to pay $2.00 per $1,000 of coverage per year. The IRS uniform premium cost table list the cost of a policy at $9.00 per $1,000 of coverage per year. 

How much of the cost must Ms. Wong include in her gross income in 20X1?

Answer rating: 100% (QA)

Answer We can calculate the amount Sue Wong needs to include in her gross income for 20... View the full answer