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chapter JE CHOICE PROBLEMS TIPLECH problems is provided below. Additional pleci canon.com by desing the Student Parti Perta dein.. e al money couple, have income of $50.000 and Social Security benefits of of their Social Security benefits must be included in their table Kelly, a married coup at What amount of their $13.600 $14.000 $17.000 $19.600 are married and had the following income and expenses for this year. Fland Karen are married Freddie's salary of $60,000. Freddie's emplo emplover provides him with a group term life insurance policy for 2 times his The policy premium paid by the employer is $150 per year. The Uniform Premium Table amount is $0.10. Keren had salary of $10,000 and unemployment compensation of $9,000 Karen won $1.500 on a game show. E i Freddie and Karen's joint gross income? $71.584. $78.184. $78.250. d $80,584. Which of the following statements is correct regarding the taxation of fringe benefits? 1. The value of the fringe benefit is included in the employee's gross income unless the Code specifically excludes it from taxation. 2. The value of the fringe benefit is excluded from the employee's gross income unless the Code specifies otherwise. 3. The value of the fringe benefit is taxable if the benefit is only provided to employees owning more than 5% of the company and the fringe benefit has a nondiscrimination requirement. The value of the fringe benefit is always taxable if someone other than the employee ce the employee's sousel benefits from the fringe benefit provided by the employer. 2 1 and 2. b. 1 and 3. C2 and 4. d. 3 and 4. MULTIPLE CHOICE PROBLEMS 213

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