Mike and Rose are married.Mike earns $45,000 from wages and Rose reports $350 on her Schedule C as an artist.Since Mike's work does not offer health insurance,Rose pays the following health insurance premiums from her business account:
$$\begin{array} { l l }
\text { Family health insurance } & \$ 9,500 \
\text { Family dental insurance } & \$ 1,000
\end{array}$$ How much can Mike and Rose deduct as self-employed health insurance?

Question

Mike and Rose are married.Mike earns $45,000 from wages and Rose reports $350 on her Schedule C as an artist.Since Mike's work does not offer health insurance,Rose pays the following health insurance premiums from her business account:
 $$\begin{array} { l l } 
\text { Family health insurance } & \$ 9,500 \
\text { Family dental insurance } & \$ 1,000
\end{array}$$ How much can Mike and Rose deduct as self-employed health insurance?

Quizplus · Accepted Answer

The Answer of Mike and Rose are married.Mike earns $45,000 from wages and Rose reports $350 on her Schedule C as an artist.Since Mike's work does not offer health insurance,Rose pays the following health insurance premiums from her business account:
 $$\begin{array} { l l } 
\text { Family health insurance } & \$ 9,500 \
\text { Family dental insurance } & \$ 1,000
\end{array}$$ How much can Mike and Rose deduct as self-employed health insurance?

Mike and Rose Are Married Family health insurance $9,500 Family dental insurance $1,000\begin{array} { l l } \text { Family health insurance } & \$ 9,500 \\\text { Family dental insurance } & \$ 1,000\end{array} Family health insurance Family dental insurance ​$9,500$1,000​

Mike and Rose Are Married $\begin{array} { l l } \text { Family health insurance } & \$ 9,500 \\\text { Family dental insurance } & \$ 1,000\end{array}$