Business
Business, 11.06.2021 03:00, hhomeschool24

Green is self-employed as a human resources consultant and reports on the cash basis for income tax purposes. Select the appropriate tax treatment on Form 1040 (U. S. Individual Income Tax Return) for personal life insurance premiums paid by Green. a. Fully deductible on Form 1040 to arrive at adjusted gross income
b. Reported in Schedule A, Itemized Deductions (deductibility subject to threshold of 7.5% of adjusted gross income)
c. Reported in Schedule A, Itemized Deductions (deductibility subject to threshold of 2% of adjusted gross income)
d. Not deductible

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