Question: For calender year 2011, Jane was a self-employed consultant with no employees. She had $80,000 net profit from consulting and paid $7,000 in medical insurance

For calender year 2011, Jane was a self-employed consultant with no employees. She had $80,000 net profit from consulting and paid $7,000 in medical insurance premiums on a policy covering 2011. How much of these premiums may Jean deduct as a deduction for AGI, and how much may she deduct as an itemized deduction ( subject to the 7.5% floor)

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