Which of the Following Statements Regarding Health Savings Accounts Is

question 82

Multiple Choice

Which of the following statements regarding Health Savings Accounts is incorrect?

• A)Taxpayers are allowed to deduct contributions to a health savings account for AGI.
• B)All taxpayers are eligible to establish a health savings account.
• C)Distributions from a health savings account are excluded from gross income if used to pay qualified medical expenses.
• D)Health savings account contributions are limited to the lesser of 100% of annual deductible under high deductible health plan or $3,350 for taxpayers without family coverage.

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Definitions:

Outputs

The results or actions produced by a computer system, electronic device, or process, following processing or operation.

Rung

A level or step in a ladder diagram, which is a traditional representation of a circuit or network in PLC programming, consisting of conditions leading to one or more outputs.

Nesting

The practice of placing one control structure within another, such as loops or conditional statements in programming.

Ladder Logic

A graphical programming language used in programmable logic controllers (PLCs) to represent electrical circuits, characterized by rungs resembling a ladder.