Angie Starts a New Job on July 1 and Becomes

question 76

Multiple Choice

Angie starts a new job on July 1 and becomes covered under the employer's health insurance plan which has an annual deductible of $2,400.Angie contributes the maximum amount into a Health Savings Account.Which of the following statements regarding Angie's Health Savings Account is correct?

• A)Angie can contribute and deduct $1,200 for AGI.
• B)Angie's contribution will be deductible if she itemizes,and the contribution along with her out-of-pocket medical expenses exceed 10% of AGI.
• C)If Angie withdraws $500 to pay for X-rays,the $500 is taxable.
• D)Interest income earned on the HCA is taxable.

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Definitions:

Election Campaign

An organized effort which seeks to influence the decision-making process within a specific group by selecting individuals for public office.

Layoffs

The temporary or permanent dismissal of employees from their jobs due to economic downturns, restructuring, or other organizational changes.

Union Certification Process

The procedure through which a union is officially recognized as the bargaining representative for a group of employees, typically involving an election.

Misrepresent

To provide a false or misleading representation of facts, leading to incorrect impressions or conclusions.