4. Investment interest expense which is disallowed because it exceeds the taxpayer's net investment income may be carried over and treated as incurred in subsequent years

True or False?

6. In what cases are medical insurance premiums paid by an individual not deductible as qualified medical expenses?

A. If the premiums cover more than just health care or long-term care for the chronically ill, (i.e. coverage for loss of income or life) and the cost of the separate items are not identified as a component of the total premium, then none of the premiums are deductible.

B. If the premiums cover more than the premiums paid for medical insurance (i.e. premiums paid for supplementary medical insurance for the aged under the Social Security Act and premiums paid for qualified long-term care insurance contracts) and the cost of the separate items are not identified as a component of the total premium, then none of the premiums are deductible.

C. When any amounts paid are included in the employee's gross income.

D. When the premiums paid also cover other individuals other than the taxpayer (i.e. spouse, children).