Multiple Choice
Gordon, an employee, is provided group term life insurance coverage equal to twice his annual salary of $125,000 per year.According to the IRS Uniform Premium Table (based on Gordon's age) , the amount is $12 per year for $1,000 of protection.The cost of an individual policy would be $15 per year for $1,000 of protection.Since Gordon paid nothing towards the cost of the $250,000 protection, he must include in his 2019 gross income which of the following amounts?
A) $1,350.
B) $2,400.
C) $3,000.
D) $3,750.
E) None of these.
Correct Answer:
Verified
Correct Answer:
Verified
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