How much must ursula include in income relative to premiums

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Reference no: EM13525210

Ursula is employed by USA Corporation. USA Corporation provides medical and health, disability, and group life insurance coverage for its employees. Premiums attributable to Ursula were as follows. Medical and Health $3,600. Disability $300 and Group life ( face amount is $40,000) $200. During the year, Ursula suffered a heart attack and died. Before her death, Ursula collected $14,000 as a reimbursement for medical expenses and $5,000 of disability income. Upon her death, Ursula's husband collected the $40,000 face value of the life insurance policy.

A) what amount can USA Corporation deduct for premiums attributable to Ursula?

B) How much must Ursula include in income relative to the premiums paid?

C) How much must Ursula include in income relative to the insurance benefits?

D) How much must Ursula'e widower include in income?

Reference no: EM13525210

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