Michael received the following income and fringe benefits in 2022: • Form W-2 wages: $40,500 • End-of-the-year bonus: $5,000 • Parking pass per month: $80 • Employer contribution to 401(k) plan: $750 • Occasional free use of a laser printer on the employer’s premises: $25 How much income must Michael report on his tax return?
Michael received the following income and fringe benefits in 2022: • Form W-2 wages: $40,500 • End-of-the-year bonus: $5,000 • Parking pass per month: $80 • Employer contribution to 401(k) plan: $750 • Occasional free use of a laser printer on the employer’s premises: $25 How much income must Michael report on his tax return?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Michael received the following income and fringe benefits in 2022:
• Form W-2 wages: $40,500
• End-of-the-year bonus: $5,000
• Parking pass per month: $80
• Employer contribution to 401(k) plan: $750
• Occasional free use of a laser printer on the employer’s premises: $25
How much income must Michael report on his tax return?
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