Charlene has self-only coverage in a qualifying high-deductible health insurance plan. She is 47 years old and

Question:

Charlene has self-only coverage in a qualifying high-deductible health insurance plan. She is 47 years old and wishes to contribute the maximum amount to her HSA. How much is she allowed to contribute and deduct in 2019?

a. $1,000

b. $1,300

c. $3,450

d. $3,500

e. $4,600

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Income Tax Fundamentals 2020

ISBN: 9780357108239

38th Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill

See More Books

Question Posted: Aug 24, 2020 08:58 AM

See More Questions

Peter Weber is an accountant. Peter is 47 years old and is married to Claire who is 45 years old and blind. She has Net Income For Tax Purposes in 2020 of $9,000, all of which is interest on...
Ron is 44 years old and wishes to retire at age 62. An important planning consideration for him is to undertake some succession planning. Estate freezes have been used extensively by professionals...
David bought a unique 20-year insurance-cum-savings plan which allows him to choose one of the following two options: Option 1: Contribute a fixed sum at the end of every month. Option 2: Contribute...
A random walk in an undirected connected graph moves from a vertex to one of its neighbors, where each possibility has equal probability of being chosen. (This process is the random surfer analog for...
Outline the potential dysfunctional aspects of control systems and explain the implications of overcontrol and undercontrol.
identify and describe personal leadership styles and their strengths;
Calculate r2 for the least squares line in Exercise 11.18 (p. 625). LO9
You were recently hired as a manager for international operations of Despoyle Chemical Corporation, a major manufacturer of dyes, fertilizers, and other industrial chemicals. Despoyle has chemical...
#6 Required information Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets...
Calculate the density of FeO, given that it has the rock salt crystal structure.
Julie, a single taxpayer, has completed her 2019 Schedule C and her net loss is $40,000. Her only other income is wages of $30,000. Julie takes the standard deduction of $12,200 in 2019. a. Calculate...
Lyndon, age 24, has a nonworking spouse and earns wages of $36,000 for 2019. He also received rental income of $5,000 and dividend income of $900 for the year. What is the maximum amount Lyndon can...
The Freudian Revolution. Read 6.3 Civilizations of Discontents. What according to Freud are some of civilization's discontents?
Context This task requires analysing a network scenario, design the network architecture and recommend IT solutions including ethical, security and sustainability considerations.The purpose of this...
What was the Prime Cost Percent for Mandy's BBQ Pit for August? Select one: a. 46.5% b. 73.9% c. 63.4% d. 85%
Finding Critical Values and Confidence Intervals. In Exercises 5-8, use the given information to find the number of degrees of freedom, the critical values x? and x*, and the confidence interval...
An investor sold 100 shares of ABC stock short at $25 and buys one ABC Jan 30 call @ $5. What is this investor's maximum gain, maximum loss, and breakeven points from this strategy?
Jake, Sachs and Brianne own a tour company called Adventure Sports. The partners share profits and losses in a 1:3:4 ratio. After Lengthy Dissagreements among the partners and several unprofitable...
Simplify the radical. 63
The water in tank A is at 270 F with quality of 10% and mass 1 lbm. It is connected to a piston/cylinder holding constant pressure of 40 psia initially with 1 lbm water at 700 F. The valve is opened,...
Your supervisor has asked you to research the following situation concerning Owen and Lisa Cordoncillo. Owen and Lisa are brother and sister. In May 2014, Owen and Lisa exchange business pickup...
Lisa Sizemore, a taxpayer in the 1015 percent tax bracket, purchased stock as an investment on July 11, 2013. She sold the stock on July 9, 2014, 2 days before qualifying for the long-term holding...
Robert Ramos (age 36) is a single taxpayer, living at 8765 Bay Dr., Monterey, CA 93940. His Social Security number is 976-23-5132. Roberts earnings and income tax withholding as the manager of a...
please help Problem 13-7 (Algo) Prepare a Statement of Cash Flows [LO13-1, LO13-2] [The following information applies to the questions displayed below.] Comparative financial statements for Weaver...
A firm has 1000 shareholders, each of whom own $59 in shares. The firm uses $28000 to repurchase shares. What percentage of the firm did each of the remaining shareholders own before the repurchase,...
Vancouver Bank agrees to lend $ 180,000 to Surrey Corp. on November 1, 2020 and the company signs a six-month, 6% note maturing on May 1, 2021. Surrey Corp. follows IFRS and has a December 31 fiscal...

Charlene has self-only coverage in a qualifying high-deductible health insurance plan. She is 47 years old and

Question:

Step by Step Answer:

Income Tax Fundamentals 2020

Students also viewed these Business questions