Question: Exercise 5-20 (Algorithmic) (LO. 2) Valentino is a patient in a nursing home for 63 days of 2021. While in the nursing home, he
Exercise 5-20 (Algorithmic) (LO. 2) Valentino is a patient in a nursing home for 63 days of 2021. While in the nursing home, he incurs total costs of $30,240. Medicare pays $18,144 of the costs. Valentino receives $33,264 from his long-term care insurance policy, which pays while he is in the facility. Assume that the Federal daily excludible amount for Valentino is $400. Of the $33,264, what amount may Valentino exclude from his gross income? 11,491 X
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