Which of the Following Is Fully Tax Deductible (It Is

question 344

Multiple Choice

Which of the following is fully tax deductible (it is either subtracted or excluded from taxable income) under the current tax system of the United States?

• A) out-of-pocket medical expenses
• B) healthcare insurance purchased through one's employer
• C) healthcare insurance purchased directly by an individual or family
• D) all of the above

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Definitions:

Dividend Income Distributions

The payment of earnings declared by a company to its shareholders, typically in the form of cash or additional shares.

Net Asset Value

The value per share of a mutual fund or an exchange-traded fund (ETF), calculated by dividing the total value of all the securities in the portfolio, minus any liabilities, by the number of shares outstanding.

Year-End Assets

The total value of all assets held by an individual or entity at the conclusion of a financial year.

Liabilities

Financial obligations or debts owed by a business or individual.