In 2018, Lou Sharp, age 35 and single, deducted $5325 on his federal income tax return for
Fantastic news! We've Found the answer you've been seeking!
Question:
In 2018, Lou Sharp, age 35 and single, deducted $5325 on his federal income tax return for medical expenses. In 2019, sharp received a refund in the amount of $875 from his insurance company. How much of the refund must be included in his 2019 gross income?
a. 5325
b. 875
c. 0
d. 750
Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
Posted Date: