Exercise 5-20 (Algorithmie) (LO. 2) valentino is a patient in a nursing home for so days of 2018. while n the nursing home, he incurs total costs of $21,600. Medicare pays $12,950 of the costs. Valentino receives $23,760 from his long-term care insurance policy, which pays w hile he is in the facility. Assume that the daily federal statutory amount for Valentino is $360. Valentino may exclude 15,120X of the $23,760 from his gross income. Feedback T Check My Work If an income item is within the all-inclusive definition of g for doing so. oss income, the item can be excluded only if the taxpayer can locate specific authority