Carlos is a self-employed, single taxpayer. In 2017, he earned a net profit of $50,000 from his contracting business. He had no other income. He would like to claim a deduction for the $5,000 he paid in medical insurance premiums during the year. He was not eligible for coverage under any other plan. Carlos should,

A. Enter this amount as an expense on Schedule C or C-EZ,

B. Claim the deduction on Schedule SE,

C. Claim the deduction directly on Form 1040,

D. Deduct this amount as a qualifying medical expense on Schedule A.

Answer rating: 100% (QA)

C Claim the deduction directly on Form 1040 A self employed person who has business in... View the full answer