Belinda spent the last 60 days of 2022 in a nursing home. The cost of the services
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Belinda spent the last 60 days of 2022 in a nursing home. The cost of the services provided to her was $18,000 ($300 per day). Medicare paid $8,500 toward the cost of her stay. Belinda also received $7,500 of benefits under a long-term care insurance policy she purchased. Assume that the Federal daily excludible amount is $390. What is the effect on Belinda’s gross income?
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Related Book For
South Western Federal Taxation 2023 Comprehensive Volume
ISBN: 9780357719688
46th Edition
Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young
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