How much reimbursement includable in federal taxable income, Accounting Basics

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How much reimbursement includable in federal taxable income

Question: Jemma is employed by United Parcel Service. United Parcel Service reimburses adoption expenses incurred by their employees. In 2022, Jemma's Adjusted Gross Income is $100,000. In 2022, United Parcel Service reimbursed Jemma $15,000 for adoption expenses incurred by Jemma. How much of the $15,000 reimbursement is includable in Jemma's 2022 Federal taxable income? Group of answer choices $110 $14,440 $15,550

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Accounting Basics: How much reimbursement includable in federal taxable income

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