Assume the life insurance is a group-term life insurance policy that provides $200,000 of…

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JDD Corporation provides the following benefits to its employee, Ahmed (age 47):

  • Salary $290,000
  • Health insurance: $10,000
  • Dental insurance: $2,000
  • Life insurance: $3,000
  • Dependent care: $5,000
  • Professional dues: $500
  • Personal use of company jet: $200,000

Assume the life insurance is a group-term life insurance policy that provides $200,000 of coverage for Ahmed. What is the total amount of taxable wages and benefits?

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