Question 8 of 75 Terrell a selfemployed architect paid for h

Question 8 of 75 Terrell, a self-employed architect, paid for his heaubonsurance out of his own pocket. He was not el under any other insurance plan until November 1, when he became eligible under his spouse\'s em His total premiums paid for the year were $4,600. How much can Terrell deduct as an adjustment to incos return? $767 O $2,300 $3,833 $4,600

Solution

Solution: $767

Explanation: Employer premium contributions for employees and their respective spouses and other tax dependents are 100% deductible. As tax year is counted from January 1 to December 31, and became eligible under his spouses employer from 1st November thus 4600 * 2/12 * 100% = $767