Question
Each of the following taxpayers may be eligible for an adjustment to income for health insurance on Schedule 1 (Form 1040) EXCEPT: Emily, a partner
Each of the following taxpayers may be eligible for an adjustment to income for health insurance on Schedule 1 (Form 1040) EXCEPT:
Emily, a partner in a law firm, receives a Schedule K-1 (Form 1065) reporting her share of income and deductions.
Travis, a 3% owner in an S corporation, receives Form W-2 for his wages and Schedule K-1 (Form 1120-S) reporting his share of the S corporation's income and deductions.
Maria, a 1% owner in an S corporation, receives Form W-2 for her wages and Schedule K-1 (Form 1120-S) reporting her share of the S corporation's income and deductions.
Erik, a sole proprietor who owns a printing business. He reports the income and deductions on a Schedule C (Form 1040).
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