Question

Filing a return for a tax year for which the statute of limitations has expired. Amending a tax return three years after the original return was filed. Mark for follow up Question 2 of 75. Carlos is a self-employed, single taxpayer. In 2017, he earned a net profit of $50,000 from his contracting business. He hac other income. He would like to claim a deduction for the $5,000 he paid in medical insurance premiums during the year. H was not eligible for coverage under any other plan. Carlos should: Enter this amount as an expense on Schedule C or C-EZ Claim the deduction on Schedute SE. Claim the deduction directly on Form 1040. Deduct this amount as a qualifying medical expense on Schedule A. Mark for follow up Question 3 of 75. f $250, and student loan int Warren has self-employment income of $27,641. He had unreimbursed educator expenses o $2 467 These entries will be renorted on

Answer 1

Answer:

Correct answer is:

Claim the deduction directly on Form 1040

Explanation:

As Carlos is self-employed and his business has net profit, he can deduct medical health insurance premium on form 1040, Line 29.

As such option C is correct and other options A, B and D are incorrect.