Kyle Is Married and a Self-Employed Landscaper

question 111

Multiple Choice

Kyle is married and a self-employed landscaper. During the current year, Kyle pays $3,000 for health insurance coverage for himself. He pays another $400 for coverage for his employee, Tabatha. How should Kyle deduct the health insurance cost?
i.Kyle deducts a total of $3,400 for AGI.II.Kyle cannot deduct any portion of his premium of $3,000 for AGI if his spouse is covered by a health plan through her employer.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Differential Sensitivity

The concept that individuals vary in their responsiveness to the same environmental stimuli.

Genes

Units of heredity made up of DNA, responsible for determining the characteristics and traits passed from parents to offspring.

Vulnerable

Exposed to the possibility of being attacked or harmed, either physically or emotionally.

Framingham Heart Study

A long-term, ongoing cardiovascular study on residents of the Framingham, Massachusetts area, initiated in 1948 to investigate the factors and characteristics that contribute to cardiovascular disease.