Question

If the total of a taxpayer's medical expense exceeds 10% of their adjusted gross income, all of the following can be deducted, EXCEPT:

a. Accident insurance premiums
b. Disability insurance premiums
c. Health insurance premiums
d. Long-term care premiums

Answer 1

Accident insurance premiums, disability insurance premiums, and health insurance premiums can be deducted if the total medical expense exceeds 10% of the adjusted gross income. Long-term care premiums cannot be deducted in this case.

This correct answer is d.

Step-by-step explanation:

If the total of a taxpayer's medical expense exceeds 10% of their adjusted gross income, all of the following can be deducted, EXCEPT:

1. Accident insurance premiums
2. Disability insurance premiums
3. Health insurance premiums
4. Long-term care premiums

Based on the information provided, accident insurance premiums, disability insurance premiums, and health insurance premiums can be deducted if the total medical expense exceeds 10% of the adjusted gross income.

However, long-term care premiums cannot be deducted in this case.

This correct answer is d.