Margaret Is Single and Is a Self-Employed Proprietor of a Convenience

question 78

Multiple Choice

Margaret is single and is a self-employed proprietor of a convenience store near the mall. During the current year, Margaret paid $4,000 for health insurance coverage for herself. She paid another $500 for coverage for her unrelated employee, Corky. How should Margaret deduct the health insurance cost?
I.Margaret takes $500 as a business expense.
II.Margaret takes the $4,000 as a deduction for AGI.​

• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

---

Definitions:

Sexual Identity

An individual's personal sense of their own gender or sexual orientation, which can influence their behaviors, desires, and social interactions.

Sexual Socialization

The process by which individuals learn and acquire the sexual norms, behaviors, and attitudes prevalent in their society.

Sexual Knowledge

Refers to information, awareness, and understanding about sexual behaviors, practices, anatomy, and reproductive health.

Heterosexual Behavior

Sexual interactions or practices that occur between individuals of the opposite sex.