Multiple Choice
Brice is a single, self-employed electrician who earns $60,000 per year in self-employment income. Brice paid the following expenses this year. Which of the expenses are deductible for AGI?
1) The cost of health insurance (not purchased through an exchange)
2) The employer portion of self-employment tax paid
3) Penalty on early withdrawal of funds from a certificate of deposit
A) Numbers 1 and 2 only.
B) Numbers 1 and 3 only.
C) Numbers 2 and 3 only.
D) None of the above is deductible for AGI.
E) All of the above are deductible for AGI.
Correct Answer:
Verified
Correct Answer:
Verified
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