Brice is a single, self-employed electrician who earns $60,000 per year in self-employment income. Brice paid the following expenses this year. Which of the expenses are deductible for AGI? 1. The cost of health insurance (not purchased through an exchange)
2) The employer portion of self-employment tax paid
3) Penalty on early withdrawal of funds from a certificate of deposit

Question

Quizplus · Accepted Answer

All of these expenses are deductible for AGI: health insurance for self-employed individuals, the employer portion of self-employment tax, and penalties on early withdrawal of savings.

Brice Is a Single, Self-Employed Electrician Who Earns $60,000 Per