Question
20 In 2020, 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
20 In 2020, 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? OA 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. OB. If Boris is an employee, he may include $7,200 when calculating his itemized medical expense deduction OC. If Boris is an employee, he may deduct $7,200 as a deduction for AGL OD. None of the statements are correct COE If Boris is self-employed, he may deduct $7,200 as a deduction for AGI 3 poin
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started