Question

QUESTION 50 De minimis fringe benefits are those that are so immaterial that accounting for them is impractical All de minimis fringe benefits (including subsidized facilities) are subject to strict anti-discrimination requirements. .al is true, but II is false b.I and II are true ocI and II are false od is false, but II is true. e None of the above QUESTION 51 51-54. Eve, age 65 and single with no dependents, provided the following information for her 2019 income tax retum Gross income $55,000 Capital loss $ 4,000 Total itemized deductions $ 4,400 Eve's capital loss deduction to reach AGI is: a $0. b. $3,000 c $4,000 od None of the above QUESTION 52 Eve's standard deduction, if it is used, is: a $1,600 ob $13,600 c $1,000 $13,850 od .e. None of the above.

Answer 1

Question - (50)

Answer -

(I) - De minimis fringe benefits are those that are so immaterial that accounting for them is impractical.

Explanation:

The Given statement is True.

.

(II) - All de minimis fringe benefits (including subsidized facilities) are subject to strict anti-discrimination requirements.

Explanation:

The Given statement is False because, the de minimis fringe benefit can be provided on a discriminatory basis.

Hence, Option - (a) - I is true; II is false, is Correct.