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What is allie gross income

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Reference no: EM132827910

Allie started her new job in 2020. She received the following payments or benefits paid on her behalf by her employer.

  1. $84,000 in salary.
  2. $ 6,000 contribution to employer qualified pension plan for her.
  3. $ 9,250 contribution to her employer's qualified health insurance plan for her.
  4. $ 8,400 in bonus for the year (paid in January 2021 for 2020)
  5. $7,500 Board of Director's fee since she is a member of the company BOD.
  6. $ 800 for group term life insurance coverage of $50,000
  7. $ 1,400 for a whole life insurance policy with a face value of $100,000
  8. $ 2,200 for disability insurance premiums (no elections made)

Problem 1: What is Allie's gross income for 2020?

Group of answer choices

Option 1: $101,300
Option 2: $92,900
Option 3: $95,100

Reference no: EM132827910

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