How does the tax treatment differ for david and joan, Accounting Basics

How does the tax treatment differ for david and joan

Problem

David, a sole proprietor of a bookstore, pays a $7,500 premium for medical insurance for him and his family. Joan, an employee of a small firm that doesn't provide her with medical insurance, pays medical insurance premiums of $8,000 for herself. How does the tax treatment differ for David and Joan?

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Accounting Basics: How does the tax treatment differ for david and joan

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Accounting Basics: How does the tax treatment differ for david and joan

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