Terry was ill for three months and missed work during this period. During the illness, Terry received $7,450 in sick pay from a disability insurance policy. What amounts are included in Terry's gross income under the following independent circumstances? Note: Leave no answer blank. Enter zero if applicable. d. Terry and his employer share the cost of the disability insurance. Terry's employer paid $3,600 in disability premiums for Terry this year as a nontaxable fringe benefit, and Terry paid the remaining $1,230 of premiums from his after-tax salary. What is the amount included in gross income. Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.
Terry was ill for three months and missed work during this period. During the illness, Terry received $7,450 in sick pay from a disability insurance policy. What amounts are included in Terry's gross income under the following independent circumstances? Note: Leave no answer blank. Enter zero if applicable. d. Terry and his employer share the cost of the disability insurance. Terry's employer paid $3,600 in disability premiums for Terry this year as a nontaxable fringe benefit, and Terry paid the remaining $1,230 of premiums from his after-tax salary. What is the amount included in gross income. Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.
Chapter10: Deductions And Losses: Certain Itemized Deductions
Section: Chapter Questions
Problem 28P
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Transcribed Image Text:Terry was ill for three months and missed work during this period. During the illness, Terry received $7,450 in sick pay
from a disability insurance policy. What amounts are included in Terry's gross income under the following independent
circumstances?
Note: Leave no answer blank. Enter zero if applicable.
d. Terry and his employer share the cost of the disability insurance. Terry's employer paid $3,600 in disability premiums
for Terry this year as a nontaxable fringe benefit, and Terry paid the remaining $1,230 of premiums from his after-tax
salary.
What is the amount included in gross income. Note: Do not round intermediate calculations. Round your answer to the
nearest whole dollar amount.
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