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$2$: Self$-$Employment with Healthcare Considerations

Wages: None

QBI $($sole proprietorship$)$: $$110,000$

Itemized Deductions: $$18,000$

Allowable deduction for self$-$employment tax: $$8,900$

Additional Information:

Health insurance premiums paid: $$15,000$

Calculate:

AGI, Taxable Income, Potential Child Tax Credits, Total Tax Liability $($consider self$-$employed health insurance deduction$)$