Tanya's employer offers a cafeteria plan that allows employees to choose among a number of...
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Accounting
Tanya's employer offers a cafeteria plan that allows employees to choose among a number of benefits. Each employee is allowed $6,000 in benefits. For 2017, Tanya selected $3,300 ($275 per month) of parking, $2,200 in 401(k) contributions, and $800 of cash. How much must Tanya include in taxable income?
a. $0
b. $1,040
c. $1,120
d. $4,000
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