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During the 2021 tax year, Gwen supports her family as a physical therapist. She reports $90,000 of earned income on her Schedule C and paid
During the 2021 tax year, Gwen supports her family as a physical therapist. She reports $90,000 of earned income on her Schedule C and paid the following insurance premiums: - Family health insurance: $15,000 - Family dental insurance: $2,000 - Health insurance for her 24-year-old son who is not a dependent: $3,000 - Long-term care insurance for her 49-year-old husband: $900 Use the following table for long-term care prehrium limitations. What is Gwen's self-employed health insurance deduction for 2021? y. Theck My Work Self-employed taxpayers are allowed an above-the-line deduction (or for AGI) for the cost of providing health insurance for themselves and their families
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