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In 2010,Barry Pays a $3,000 Premium for High-Deductible Medical Insurance

Question 15

Multiple Choice

In 2010,Barry pays a $3,000 premium for high-deductible medical insurance for himself and his family.In addition,he contributes $2,600 to a Health Savings Account.Which of the following statements is true?


A) If Barry is self-employed,he may deduct $5,600 as a deduction for AGI.
B) If Barry is self-employed,he may deduct $2,600 as a deduction for AGI and may include the $3,000 premium when calculating his itemized medical expense deduction.
C) If Barry is an employee,he may deduct $5,600 as a deduction for AGI.
D) If Barry is an employee,he may include $5,600 when calculating his itemized medical expense deduction.
E) None of the above.

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