Serena is a 38-year-old single taxpayer. She operates a small business on the side as a sole proprietor. Her 2021 Schedule C reports net profits of $15,000. Her employer does not offer health insurance. Serena pays health insurance premiums of $7,800 in 2021. Serena also pays long-term care insurance premiums of $600 in 2021. Calculate Serena's
Serena is a 38-year-old single taxpayer. She operates a small business on the side as a sole proprietor. Her 2021 Schedule C reports net profits of $15,000. Her employer does not offer health insurance. Serena pays health insurance premiums of $7,800 in 2021. Serena also pays long-term care insurance premiums of $600 in 2021. Calculate Serena's
Chapter6: Business Expenses
Section: Chapter Questions
Problem 59P
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Serena is a 38-year-old single taxpayer. She operates a small business on the side as a sole proprietor. Her 2021 Schedule C reports net profits of $15,000. Her employer does not offer health insurance. Serena pays health insurance premiums of $7,800 in 2021. Serena also pays long-term care insurance premiums of $600 in 2021.
Calculate Serena's self-employed health care deduction.
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