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Business, 23.04.2021 02:30 haldridge19

Tim is the vice president of western operations for Maroon Oil Company and is stationed in San Francisco. He is required to live in an employer-owned home, which is three blocks from his company office. The company-provided home is equipped with high-speed internet access and several telephone lines. Tim receives telephone calls and e-mails that require immediate attention any time of day or night, as the company's business is spread all over the world. A full-time administrative assistant resides in the house to assist Tim with urgent business matters. Tim often uses the home for entertaining customers, suppliers, and employees. The fair market value of comparable housing is $9,000 per month. Tim also is provided with free parking at his company's office. The value of the parking is $360 per month. a. Complete the statements below regarding Tim's exclusion issue and what he must include in his gross income for 2020. Section 119 excludes from income the value of meals and lodging provided to the employee and the employee's spouse and dependents under the following conditions: The meals and/or lodging are furnished by the employer for the convenience of . In the case of lodging, the employee to accept the lodging as a condition of employment. Tim could argue that this house is an extension of because of the extensive business activities conducted in the home.

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