Question: Ch 5 Exercise 5-20 (Algorithmic) (LO. 2) Valentino is a patient in a nursing home for 61 days of 2017. While in the nursing home,

Ch 5 Exercise 5-20 (Algorithmic) (LO. 2) Valentino is a patient

Ch 5 Exercise 5-20 (Algorithmic) (LO. 2) Valentino is a patient in a nursing home for 61 days of 2017. While in the nursing home, he incurs total costs of $26,352. Medicare pays $15,811 of the costs. Valentino receives $28,987 from his long-term care insurance policy, which pays while he is in the facility. Assume that the daily federal statutory amount for Valentino is $360. Valentino may exclude of the $28,987 from his gross income

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