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ACC 343, Chapter 5

Across
A scholarship for ___ ___ ___ must be included in gross income.
A refund of state income taxes is included in gross income only to the extent required by the _____ _____ _____.
Life insurance proceeds paid to the ____ of a life insurance policy because of the death of the insured are excluded from gross income.
_____ damages for a personal injury are included in gross income.
A qualified employee discount on inventory may not exceed the _____ _____ the employer would realize on a sale of the inventory.
Amounts received from an employer for _____ _____ may be excluded from gross income up to $5,250 per year
Gifts are generally ____ from gross income
Corporate distributions to shareholders that are not out of earnings and profits _____ the shareholder's basis in the stock.
Down
The amount of a qualified employee discount for services that an employee may excluded from gross income may not exceed _____ percent of the value of the service.
This type of fringe benefit is so small that it is excluded from gross income
The value of _____ furnished by an employer and eaten on the employer's business premises are excluded from the gross income of the employee if they are for the convenience of the employer
Interest on _____ bonds is excluded from gross income.
Premiums paid by an employer for group term ____ ____ are excluded on insurance up to $50,000.
Once a shareholder's basis in the stock has been reduced to zero, any additional distributions from the corporation that are not out of earnings and profits will cause the shareholder to recognize a _____ _____
_____ damages for a personal injury are excluded from gross income.
Most gifts from an _____ are included in gross income.