Linda and Richard are married and file a joint return for 2021. During the year, Linda, who works as an accountant for a national airline, used $2,100 worth of free passes for travel on the airline; Richard used the same amount. Linda and Richard also used $850 worth of employee discount coupons for hotel rooms at the hotel chain that is also owned by the airline. Richard is employed at State University as an accounting clerk. Under a tuition reduction plan, Richard saved $4,000 in tuition fees during 2021. He is studying for a master's degree in business at night while still working full-time. Richard also had $30 worth of personal typing done by his administrative assistant at the University. What is the amount of fringe benefits that should be included in Linda and Richard's gross income on their 2021 tax return? X
Linda and Richard are married and file a joint return for 2021. During the year, Linda, who works as an accountant for a national airline, used $2,100 worth of free passes for travel on the airline; Richard used the same amount. Linda and Richard also used $850 worth of employee discount coupons for hotel rooms at the hotel chain that is also owned by the airline. Richard is employed at State University as an accounting clerk. Under a tuition reduction plan, Richard saved $4,000 in tuition fees during 2021. He is studying for a master's degree in business at night while still working full-time. Richard also had $30 worth of personal typing done by his administrative assistant at the University. What is the amount of fringe benefits that should be included in Linda and Richard's gross income on their 2021 tax return? X
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 9P: Linda and Richard are married and file a joint return for 2019. During the year, Linda who works as...
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Transcribed Image Text:Linda and Richard are married and file a joint return for 2021. During the year, Linda, who
works as an accountant for a national airline, used $2,100 worth of free passes for travel on
the airline; Richard used the same amount. Linda and Richard also used $850 worth of
employee discount coupons for hotel rooms at the hotel chain that is also owned by the
airline. Richard is employed at State University as an accounting clerk. Under a tuition
reduction plan, Richard saved $4,000 in tuition fees during 2021. He is studying for a master's
degree in business at night while still working full-time. Richard also had $30 worth of
personal typing done by his administrative assistant at the University.
What is the amount of fringe benefits that should be included in Linda and Richard's gross
income on their 2021 tax return?
X
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