Angie starts a new job on July 1 and becomes covered under the employer's health insurance plan which has an annual deductible of $2,400. Angie contributes the maximum amount into a Health Savings Account. Which of the following statements regarding Angie's Health Savings Account is correct?
A. Angie's contribution will be deductible if she itemizes, and the contribution along with her out-of-pocket medical expenses exceed 7.5% of AGI.
B. Interest income earned on the HCA is taxable.
C. Angie can contribute and deduct $1,200 for AGI.
D. If Angie withdraws $500 to pay for X-rays, the $500 is taxable.
Answer: C
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