Required Information (The folowing information apples to the questions displayed

Question

Required Information (The folowing information apples to the questions displayed below Hardeway earmed $93,500 of compensation this year. He also paid (or had pald for him) $4850 of health insurance (not through an exchange). What Is Hardaway's AGi in each of the following situations ignore the efflects of Social Security and self employment b. Hardeway is a seltfemployed taxpayer, and he paid $4.850 of health insurance hmself He is not eligibie to partcipate in an TOSHIBA 2 4 5 6 7 8 9 0 S DF GHK

Explanation / Answer

Health insurance is deductible for all whether self-employed or under employment so, Hardaway’s AGI is $88,650 (the same as in part a), consisting of $93,500 of taxable earnings minus $4,850 for AGI deduction for the health insurance.

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