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How much of the sick pay received is taxable to Sydney

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Reference no: EM132993016

Problem - Sydney's employer provides his employees with an insurance policy that pays sick benefits if the employee is out of work due to illness for longer than a specified period. His employer pays 70% of the premiums, and Sydney pays the remaining 30%. When Sydney was out of work, he was paid $4,500 in sick pay from the policy. How much, if any, of the sick pay received is taxable to Sydney?

Reference no: EM132993016

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