This Year Joseph Joined the Board of Directors The Stock Bonus Consisted of 5,000 Shares of Bell Stock

question 65

Essay

This year Joseph joined the board of directors.Besides his director's fees,Joseph received the following employee benefits:
$$\begin{array} { l r } \text { Salary } & \$ 204,000 \\\text { Contribution to qualified pension plar1 } & 25,000 \\\text { Qualified health insurance prerniurns } & 8,000 \\\text { Stock bonus } & 20,000 \\\text { Arrual director's fee } & 15,000 \\\text { Group-tern life insurance premiurns (face } = \$ 40,000 ) & 1,800\end{array}$$ The stock bonus consisted of 5,000 shares of Bell stock given to Joseph as compensation.At the time of the transfer the stock was listed at $4 per share.What amounts,if any,should Joseph include in gross income this year?

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