Tanya's employer offers a cafeteria plan that allows employees to choose among a number of benefits. Each employee is allowed $6,000 in benefits. For 2019, Tanya selected $3,420 ($285 per month) of parking, $1,780 in 401(k) contributions, and $800 of cash. How much must Tanya include in taxable income?

Respuesta :

Answer:

$1,240

Explanation:

$1,240 is inclusible: $240 of parking benefits [$3,000 - ($230 exclusible amount x 12)] and $1,000 of cash

ACCESS MORE
ACCESS MORE
ACCESS MORE
ACCESS MORE