You have a client (Jessica) is married, whose husband stays at home and goes to school. Jessica makes $150,000 per year income before adjustments, but she is not subject to a retirement plan. During the year, they suffered a bout of cancer and had to go to the hospital. While the boss was willing to keep paying them, because Jessica used alternative treatments, the insurance company was not willing to pay for the treatment

1. Absent another consideration for adjustments, what is the medical deduction allowed on Schedule A?

2. What is the income limit for Jessica to contribute to a Traditional IRA?

3. if you were to recommend Jessica to make a Traditional IRA contribution, how will this change the medical deduction you provided in the answer for a. of this question?

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1 The medical treatment expenses received from the employer ... View the full answer