How much of the cost of the premiums must don include, Accounting Basics

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How much of the cost of the premiums must don include

Question:

Andy Becker, who is 42 years old, is provided with $110,000 of group-term life insurance by his employer. Andy does not pay any of the premiums and was covered for the entire year under this policy during 2014. His employer paid $1,350 in premiums on this policy during 2014. How much of the cost of the premiums must Don include in his gross income for 2014?

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Accounting Basics: How much of the cost of the premiums must don include

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