S corporation shareholders who own more than 2% of the outstanding stock are eligible for which of the following tax-free benefits?
A) group term life insurance exclusion under Sec. 79 for premiums paid for up to $50,000 coverage
B) exclusion for cafeteria plan benefits
C) exclusion from income for premiums paid for accident and health and medical reimbursement plans
D) None of the above.
D) None of the above.
Shareholders who own more than 2% of the outstanding stock are not eligible for many of the tax-free benefits, including the ones designated in this question.
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