Deduction as an itemized deduction


For calendar year 2011, Jean was a self-employed consultant with no employees. She had $80,000 net profit from consulting and paid $7000 in medical insurance premiums on a policy coverage 2011. How much of these premiums may Jean deduct as a deduction for AGI, and how much may she deduct as an itemized deduction (subject to the 7.5% floor)?

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Accounting Basics: Deduction as an itemized deduction
Reference No:- TGS059909

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