In 2021, Markus pays a $4,800 premium for high-deductible medical insurance for himself and his family....
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In 2021, Markus pays a $4,800 premium for high-deductible medical insurance for himself and his family. In addition, he contributes $3,000 to a Health Savings Account. If Marrkus is self-employed but does NOT itemize his deductions, taking the standard deduction instead, how much can Markus deduct FOR AGI on his 2020 tax return? Tony, a calendar year single taxpayer, has the following information for 2021: AGI $185,000 State income taxes 11,500 State sales tax 3,000 Real estate taxes 10,900 Gambling losses (gambling gains were $12,000) 1,000 Tony's allowable itemized deductions for 2021 are: In 2021, Markus pays a $4,800 premium for high-deductible medical insurance for himself and his family. In addition, he contributes $3,000 to a Health Savings Account. If Marrkus is self-employed but does NOT itemize his deductions, taking the standard deduction instead, how much can Markus deduct FOR AGI on his 2020 tax return? Tony, a calendar year single taxpayer, has the following information for 2021: AGI $185,000 State income taxes 11,500 State sales tax 3,000 Real estate taxes 10,900 Gambling losses (gambling gains were $12,000) 1,000 Tony's allowable itemized deductions for 2021 are:
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Question 1 The AGI deduction will be equal to the amount contributed to the health saving account ... View the full answer
Related Book For
Systems analysis and design
ISBN: ?978-1118808177
5th edition
Authors: Alan Dennis, Barbara Haley Wixom, Roberta m. Roth
Posted Date:
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