Bison Financial Group has a health-care plan for all employees.Dan,an employee,is single and owns 10% of Bison Financial.In 2013,the company paid $2,000 for Dan's health plan.Which of the following are correct statements?
I.If Bison Financial Group is an S corporation,Dan must report the $2,000 as income and can deduct the $2,000 as an itemized medical expense deduction.
II.If Bison Financial Group is a partnership,Dan must report the $2,000 as income and can deduct $2,000 as a deduction for AGI.

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The Answer of Bison Financial Group has a health-care plan for all employees.Dan,an employee,is single and owns 10% of Bison Financial.In 2013,the company paid $2,000 for Dan's health plan.Which of the following are correct statements?
I.If Bison Financial Group is an S corporation,Dan must report the $2,000 as income and can deduct the $2,000 as an itemized medical expense deduction.
II.If Bison Financial Group is a partnership,Dan must report the $2,000 as income and can deduct $2,000 as a deduction for AGI.

Bison Financial Group Has a Health-Care Plan for All Employees