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Author Question: Katie, a self-employed CPA, purchased an accident & disability insurance policy. As the result of an ... (Read 98 times)

ssal

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Question 1

John, an employee of a manufacturing company, suffered a heart attack and was unable to work for six months. He received $1,500 per month of disability benefits as a result of an employer-provided group policy. The benefits are includible in John's gross income.
◦ true
◦ false

Question 2

Katie, a self-employed CPA, purchased an accident & disability insurance policy. As the result of an auto accident, Katie was unable to work and received $3,000 of disability benefits per month for seven months. The benefits were based on her estimated monthly income and should be reported as gross income.
◦ true
◦ false


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Marked as best answer by ssal on Sep 13, 2020

Cnarkel

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ssal

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Reply 2 on: Sep 13, 2020
Gracias!


diana chang

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Reply 3 on: Yesterday
Excellent

 

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