Which of the following is a true statement?
A)For purposes of the deduction for educational interest, an educational loan must be used to pay tuition to any type of school.
B)The maximum deduction for educational interest is $5,000 for married taxpayers filing jointly.
C)Self-employed taxpayers are not allowed to deduct health care premiums if the taxpayer is eligible to participate in their spouse's employer-provided health plan.
D)Self-employment taxes paid by self-employed taxpayers are deductible as business expenses.
E)All of the choices are true.

Question

Quizplus · Accepted Answer

C) Self-employed taxpayers are not allowed to deduct health care premiums if the taxpayer is eligible to participate in their spouse's employer-provided health plan. This is a specific rule regarding the deductibility of health insurance premiums for self-employed individuals, emphasizing the condition of eligibility for a spouse's employer plan.

Which of the Following Is a True Statement