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ID: 2582437 • Letter: C
Question
ce from Cengage Learning Mozilla Firefox Locator assignment-take8inprogress false ot Frelox Take Survey Problem 10-30 (LO. 2) in the current year, Roger pays a $3,000 premium for high-deductible medical insurance for him and his family. In addition, he contributed $2,600 to a Health Savings Account. a. How much may Roger deduct if he is self-employed and earned $42,5007 Is the deduction for AGI or from AGI? If Roger self-employed, he may deduct 5,600for AG b. How much may Roger deduct if he is an employee (disregarding 10% AGI floor implications)? If Roger is an employee, he may deduct Remizes his deductions v 5,600 x for AGI and 5,600 x from AGI if he Partally correct Panl coned Prewqus oem 5:00 PMExplanation / Answer
a) Answer: If Roger is self employed he may deduct $5,600 ($3,000 + $2,600) for AGI.
Roger is self employed he can deduct $3,000 paid for the high deductible policy and also $2600 paid to health savings account as a deduction for AGI.
b) Answer: If Roger is an employee he may deduct $2,600 for AGI and $3,000 from AGI if he itemizes his deduction.
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