Maribeth and Rick are married and file jointly. Maribeth runs her own bakery and makes a net profit of $75,000 which she reports on her Schedule C. They pay $900 monthly for Maribeth’s health insurance coverage. Rick was unemployed until he found a job with the railroad in June. On August 1, 2022, Rick became eligible to participate in the company’s health insurance plan but declined coverage, preferring to stay with Maribeth’s plan. How much can Maribeth and Rick deduct in self-employed health insurance premiums for 2022?
Maribeth and Rick are married and file jointly. Maribeth runs her own bakery and makes a net profit of $75,000 which she reports on her Schedule C. They pay $900 monthly for Maribeth’s health insurance coverage. Rick was unemployed until he found a job with the railroad in June. On August 1, 2022, Rick became eligible to participate in the company’s health insurance plan but declined coverage, preferring to stay with Maribeth’s plan. How much can Maribeth and Rick deduct in self-employed health insurance premiums for 2022?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Maribeth and Rick are married and file jointly. Maribeth runs her own bakery and makes a net profit of $75,000 which she reports on her Schedule C. They pay $900 monthly for Maribeth’s health insurance coverage. Rick was
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