Belinda, a 55 year old single woman with no dependents, has a $75,000 gröup term life insurance policy through her employer. Her employer pays the premiums on Belinda's group term life insurance policy. How much per year will Belinda have to include into her gross income associated with the cost of this insurance? Assume the cost of this insurance is $0.43 per month per $1,000 of coverage. Multiple Choice $0 $65 $129 None of the above

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter5: Gross Income: Exclusions
Section: Chapter Questions
Problem 40P
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Belinda, a 55 year old single woman with no dependents, has a $75,000 group
term life insurance policy through her employer. Her employer pays the
premiums on Belinda's group term life insurance policy. How much per year will
Belinda have to include into her gross income associated with the cost of this
insurance? Assume the cost of this insurance is $0.43 per month per $1,000 of
coverage.
Multiple Choice
$0
$65
$129
None of the above
Transcribed Image Text:Belinda, a 55 year old single woman with no dependents, has a $75,000 group term life insurance policy through her employer. Her employer pays the premiums on Belinda's group term life insurance policy. How much per year will Belinda have to include into her gross income associated with the cost of this insurance? Assume the cost of this insurance is $0.43 per month per $1,000 of coverage. Multiple Choice $0 $65 $129 None of the above
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