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In 2018, Boris pays a $3,800 premium for high-deductible medical insurance for himself and his family. In addition, he contributes $3,400 to a Health Savings Account. Which of the following statements is true?


A) If Boris is self-employed, he may deduct $7,200 as a deduction for AGI.
B) If Boris is self-employed, he may deduct $3,400 as a deduction for AGI and may include the $3,800 premium when calculating his itemized medical expense deduction.
C) If Boris is an employee, he may deduct $7,200 as a deduction for AGI.
D) If Boris is an employee, he may include $7,200 when calculating his itemized medical expense deduction.
E) None of the above.

F) None of the above
G) All of the above

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Richard, age 50, is employed as an actuary. For calendar year 2018, he had AGI of $130,000 and paid the following medical expenses: Richard, age 50, is employed as an actuary. For calendar year 2018, he had AGI of $130,000 and paid the following medical expenses:   Derrick and Jane would qualify as Richard's dependents except that they file a joint return. Richard's medical insurance policy does not cover them. Richard filed a claim for $4,800 of his own expenses with his insurance company in November 2018 and received the reimbursement in January 2019. What is Richard's maximum allowable medical expense deduction for 2018? A)  $0 B)  $7,090 C)  $10,340 D)  $20,090 E)  None of the above Derrick and Jane would qualify as Richard's dependents except that they file a joint return. Richard's medical insurance policy does not cover them. Richard filed a claim for $4,800 of his own expenses with his insurance company in November 2018 and received the reimbursement in January 2019. What is Richard's maximum allowable medical expense deduction for 2018?


A) $0
B) $7,090
C) $10,340
D) $20,090
E) None of the above

F) A) and D)
G) C) and D)

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Hugh, a self-employed individual, paid the following amounts during the year: Hugh, a self-employed individual, paid the following amounts during the year:   What is the maximum amount Hugh can claim as taxes in itemizing deductions from AGI? A)  $7,650 B)  $8,850 C)  $9,625 D)  $10,000 E)  None of the above What is the maximum amount Hugh can claim as taxes in itemizing deductions from AGI?


A) $7,650
B) $8,850
C) $9,625
D) $10,000
E) None of the above

F) C) and D)
G) A) and B)

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Noah gave $750 to a good friend whose house was destroyed by an earthquake. In addition, Noah contributed his time, valued at $250, in the cleanup effort. Noah may claim a charitable deduction of $1,000 on his tax return for the current year.

A) True
B) False

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