Essay Question: Writetwo paragraphs aboutONE of the deductions listed below. In your essay youmust...

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Essay Question: Writetwo paragraphs aboutONE of the deductions listed below. In your essay youmust cover the following points: 1) brief description of deduction, 2) its purpose and who can use it, 3)mechanics of how the deduction is calculated, and 4) any applicable limits, thresholds, or phaseouts used(or if none, state so).You only need to cover thegeneral points about the deduction. You need not describe every detail ornuance.Choices of deductions:Moving expenses (line 26 of form 1040) State and local income taxes (line 5 of Sch A)Educator expenses (line 23 of form 1040) Real estate taxes (line 6 of Sch A)SE health insurance (line 29 of form 1040) Casualty and theft losses (line 20 of Sch A)

David · Accepted Answer

SE Health Insurance Deduction 
This deduction is made for the people who are self employed and paying medical, dental or any 
of the long – term care insurance. This will be find on Form 1040, Line 29 – it allows self – employed 
health insurance premiums during a assess year. This will be deduction on the personal income tax 
form and can be filed for it.  Self employed health insurance is eligibility criteria as : 
A individual self employed who reported net profit on Schedule C(Form 1040), Profit and Loss from 
Business, Net Profit From Business, Schedule C-EZ (Form 1040), or Schedule F (Form 1040), Profit or 
Loss From Farming., A partner with net earnings from self-employment reported on Partner's Share 
of Income, Deductions, Schedule K-1 (Form 1065),

Essay Question: Writetwo paragraphs aboutONE of the deductions listed below. In your essay youmust cover the following points: 1) brief description of deduction, 2) its purpose and who can use it,...

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