Megan is the sole proprietor of a bookstore and paid $5,000 last year in premiums for medical expense coverage. She incurred $6,000 in medical expenses and was reimbursed for these costs under her health plan. Which of the following statements is CORRECT?
Megan is the sole proprietor of a bookstore and paid $5,000 last year in premiums for medical expense coverage. She incurred $6,000 in medical expenses and was reimbursed for these costs under her health plan. Which of the following statements is CORRECT?
A) Megan can take a partial deduction for the amount of premiums paid.
B) Megan must include the benefits received from her health plan in income.
C) Megan must include part of the benefits received from her health plan in income.
D) Megan can take a deduction for the entire amount of premiums paid.
Answer: Megan can take a deduction for the entire amount of premiums paid.
Comments
Post a Comment