Jena is a self-employed fitness trainer who had net earnings from self-employment of $53,500.She paid $525 per month for health insurance over the entire last year.Jena is entitled to a for AGI deduction for health insurance of:

Question

Quizplus · Accepted Answer

Jena is allowed to deduct the cost of her health insurance as a for AGI deduction. The deduction is equal to the total cost of the insurance premiums paid during the tax year, up to the net earnings from self-employment. In this case, Jena paid $525 per month for 12 months, resulting in a total cost of $6,300. Since her net earnings from self-employment were $53,500, she is eligible for the full deduction of $6,300.

Jena Is a Self-Employed Fitness Trainer Who Had Net Earnings