Multiple Choice
S corporation shareholders who own more than 2% of the outstanding stock are eligible for which of the following tax-free benefits?
A) group term life insurance exclusion under Sec.79 for premiums paid for up to $50,000 coverage
B) exclusion for cafeteria plan benefits
C) exclusion from income for premiums paid for accident and health and medical reimbursement plans
D) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q79: S corporations are a common form for
Q80: A business distributes land to one of
Q81: All costs of organizing a partnership can
Q82: Emma contributes property having a $24,000 FMV
Q83: Ordinary losses and separately stated deduction and
Q85: All of the following statements are true
Q86: At the beginning of this year,Edmond and
Q87: Mia is a 50% partner in a
Q88: When capital or Sec.1231 assets are transferred
Q89: George transferred land having a $170,000 FMV