Question

The amount of self-employed health insurance premiums that could be deductible as a for AGI deduction is:

a. 100%.
b. 80%.
c. 70%.
d. 50%.

Answer 1

The deductible amount of self-employed health insurance premiums for AGI purposes is 100%, allowing a full deduction of these premiums in the calculation of taxable income.

Step-by-step explanation:

The amount of self-employed health insurance premiums that could be deductible as a for AGI (Adjusted Gross Income) deduction is 100%. This means that self-employed individuals can deduct the full cost of health insurance premiums paid for themselves, their spouse, and dependents when calculating their AGI on their federal income tax return. This deduction helps lower the taxable income of self-employed people, thus reducing their overall tax liability.