Deductions for Self-Employed Taxpayers (LO. 8) Thomas is single and a self-employed architect. During 2020, Thomas's income from his business is $164,000. He also pays $2,080 for a medical insurance policy. a. How should the medical insurance policy payment be reflected on his 2020 tax return? Thomas allowed a deduction adjusted gross income for the cost of the policy. Feedback V Check My Work The deductions for adjusted gross income that self-employed taxpayers are allowed to take for health insurance premiums and self-employment taxes are designed to provide some measure of equity in the treatment of employees and self-employed individuals. b. What is his 2020 self-employment tax deduction? Round intermediate calculations and final answers to the nearest whole dollar. Thomas's self-employment tax is $ and his deduction for adjusted gross income is $ in 2020. c. Assume that Thomas's income from his business is $228,000. What is his 2020 self-employment tax deduction? Round intermediate calculations and final answers to the nearest whole dollar. Thomas's self-employment tax is $ and his deduction for adjusted gross income is $ in 2020. Feedback Check My Work Incorrect d. Assume the same facts as in part a, except Thomas is married, his wife's salary is $26,800, and they are covered by a medical policy from her employer. Complete the statement below regarding this scenario. If his wife's employer provides her with medical coverage, is allowed for adjusted gross income for his policy