Jim Jones owns 50 percent of the stock of an S-corporation. In 2010, Jim obtains a health insurance plan providing coverage for Jim, his wife, and their two children. Jim makes all of the premium payments to the plan during 2010 and furnishes proof of the payments to the S-corporation which then reimburses him for the payments and reports the premium payments as wages on Jim’s W-2 for the year. Jim reports the amounts as gross income on his 2010 personal tax return. Jim’s income from the S-corporation exceeds the amount of premiums for the health coverage and he does not participate in any subsidized health plans maintained by another employer or an employer of his spouse. Is Jim allowed to take a deduction on his personal tax return for the health insurance premiums paid during the year?