James, a Cash Basis Taxpayer, Received the Following Compensation and Fringe

question 36

Multiple Choice

James, a cash basis taxpayer, received the following compensation and fringe benefits in the current year: ​
His actual salary was $72,000. He received only $66,000 because his salary was garnished and the employer paid $6,000 on James's credit card debt he owed. The wage continuation insurance is available to all employees and pays the employee three-fourths of the regular salary if the employee is sick or disabled. The long-term care insurance is available to all employees and pays $150 per day towards a nursing home or similar facility. What is James's gross income from the above?

• A)$66,000.
• B)$72,000.
• C)$73,000.
• D)$75,000.
• E)None of these.

---

Definitions:

Resize Nonproportionally

Altering the size of an image or object without maintaining the original aspect ratio, which may distort the image.

Screenshot

An image captured of whatever is currently displayed on a computer screen or portion of the screen.

Edit The Object

The process of modifying the properties or content of a digital object such as images, files, or multimedia elements.

Group Command

A function typically found in software that allows a user to apply commands to multiple items at once.