If You Own Personal Property, Which Type of Insurance Are

question 66

Multiple Choice

If you own personal property, which type of insurance are you most likely to budget for first?

• A) Property and casualty insurance
• B) Disability insurance
• C) Health insurance
• D) Flood insurance

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Definitions:

Moving Expense Distance

The minimum distance the new workplace must be from the taxpayer's old home to qualify moving expenses as deductible, according to IRS rules.

Old Residence

A taxpayer's former primary home or living place before moving to a new location.

Health Insurance Payments

Payments made by individuals or their employers to cover medical expenses and health care costs.

AGI Deduction

Deductions from gross income that are allowed in computing for Adjusted Gross Income (AGI), affecting eligibility for various tax credits and deductions.