Turner, Inc., provides group term life insurance to the officers of the corporation only. Janet, a vice-president, received $450,000 of coverage for the year at a cost to Turner, Inc. of $5,600. The Uniform Premiums (based on Janet's age) are $15 a year for $1,000 protection. How much of this must Janet include in gross income this year?

Turner, Inc., provides group term life insurance to the officers of the corporation only. Janet, a vice-president, received $450,000 of coverage for the year at a cost to Turner, Inc. of $5,600. The Uniform Premiums (based on Janet's age) are $15 a year for $1,000 protection. How much of this must Janet include in gross income this year?

Turner, Inc., provides group term life insurance to the officers of the corporation only. Janet, a vice-president, received $450,000 of coverage for the year at a cost to Turner, Inc. of $5,600. The Uniform Premiums (based on Janet's age) are $15 a year for $1,000 protection. How much of this must Janet include in gross income this year?



a. $0.
b. $2,700.
c. $5,600.
d. $6,000.
e. None of these.


Answer: d


Learn More :