1)N paid the family's medical expenses for the current year which totaled $4,300.

                                                                  Medicals                   Net Income

N                                                                $2,600                      $120,000

Spouse                                                           900                          40,000

Child under age 18                                        800                                600

What is the maximum federal medical expense credit?

2) O's medical expenses paid during 12-month period ending in the current year titled $3,400. The medical expenses for O's 20-year-old son paid during the same 12-month period totaled $1,600. For the current year, O had net income of $130,000 and the son had net income of $5,000. What is the maximum federal medical expense credit?

3) F earned $100,000 of employment income in the current year. His employer with held CCP and EL premiums of $3,754 as well as income tax. F's marital status is single. What is F's federal tax payable for the current year? (Ignore the deduction for enhanced CCP contributions).

Answer rating: 100% (QA)

Question 1 The federal medical expense tax credit rate Step 1 Ns medical expense credit Calculation Ns medical expense credit 2600 x 20 520 Step 2 Spouses medical expense credit Calculation Spouses me... View the full answer