Andres Has Received the Following Benefits This Year Besides These Benefits Andres Missed Work for Two Months Due

question 59

Essay

Andres has received the following benefits this year. $$\begin{array} { | l | r | } \hline \text { Salary } & \$ 92,000 \\\hline \text { Contribution to qualified pension plan } & 10,200 \\\hline \text { Qualified health insurance premiums } & 8,400 \\\hline \text { Year-end bonus } & 15,000 \\\text { Group-term life insurance premiums (face } = \$ 40,000 \text { ) } & 1,750 \\\hline \text { Whole life insurance premiums (face } = \$ 100,000 \text { ) } & 2,420 \\\hline \text { Disability insurance premiums } & 1,800 \\\hline\end{array}$$ Besides these benefits Andres missed work for two months due to an illness. During his illness Andres received $6,500 in sick pay from a disability insurance policy. Assume Andres has disability insurance provided by his employer as a nontaxable fringe benefit. What amount, if any, must Andres include in gross income this year?

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Definitions:

UAA

One of the three stop codons in the genetic code that signals the end of protein synthesis.

Eukaryotic Transcripts

The RNA molecules resulting from transcription in eukaryotic cells, including both coding mRNA and non-coding RNA.

Modified

Changed in form or character; not originally in its natural or intended state, often through human intervention.

Transcription

The act of transcribing a portion of DNA into RNA.