Multiple Choice
In 2018, Boris pays a $3,800 premium for high-deductible medical insurance for himself and his family. In addition, he contributes $3,400 to a Health Savings Account. Which of the following statements is true?
A) If Boris is self-employed, he may deduct $7,200 as a deduction for AGI.
B) If Boris is self-employed, he may deduct $3,400 as a deduction for AGI and may include the $3,800 premium when calculating his itemized medical expense deduction.
C) If Boris is an employee, he may deduct $7,200 as a deduction for AGI.
D) If Boris is an employee, he may include $7,200 when calculating his itemized medical expense deduction.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
Q3: Mindy paid an appraiser to determine how
Q63: During the year, Victor spent $300 on
Q85: Noah gave $750 to a good friend
Q95: In the current year, Jerry pays $8,000
Q96: This year Dena traveled 600 miles for
Q98: Paul and Patty Black (both are age
Q99: Joe, who is in the 32% tax
Q100: Sadie mailed a check for $2,200 to
Q103: Hugh, a self-employed individual, paid the following
Q104: Richard, age 50, is employed as an