Chapter 5 in-class problems-completed

Chapter 5 in-class problems-completed - 16 140 $175 service...

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16 140 $175 service fee * 80% the maximum exclusion for discount on services is 20%, since T 80%, the amount above the maximum excludible discount is tax 29 a 10,000 income to Josh b - c - d - e 5,000 income in respect to a decendent 37 a 150,000 included in income, not from physical injury b 50,000 included in income, not from physical injury c 50,000 included in income in the current year assuming a d 30,000 punitive damages are taxable e 300,000 punitive damages are taxable 48 a nontaxble nondiscriminatory fringe benefit b 250 fmv per month of parking for Polly (230) less maximum monthly excludable amount 20 excess per month over the excludable amount is 12 number of months during the year 240 Polly must include in her income for tax purposes c nontaxable "no additional cost" fringe benefit d nontaxable "no additional cost" fringe benefit e nontaxable "no additional cost" fringe benefit f 900 discriminatory fringe benefit, all taxable to the rec 49 June 30 July 31 August
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Chapter 5 in-class problems-completed - 16 140 $175 service...

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