Question: Problem 10-28 (Algorithmic) (LO. 2) In the current year, Roger pays a $6,700 premium for high-deductible medical insurance for him and his family. In addition,
Problem 10-28 (Algorithmic) (LO. 2)
In the current year, Roger pays a $6,700 premium for high-deductible medical insurance for him and his family. In addition, he contributed $5,695 to a Health Savings Account.
a. How much may Roger deduct if he is self-employed? Is the deduction for AGI or from AGI?
If Roger is self-employed, he may deduct $_____ for/from AGI.
b. How much may Roger deduct if he is an employee (disregarding the AGI floor implications)?
If Roger is an employee, he may deduct $_____for AGI and $_______ from AGI if he takes the standard deduction/ itemizes his deductions.
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