Simpson, age 45, is a single individual who is employed full time by Duff Corporation. This year
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Question:
Simpson, age 45, is a single individual who is employed full time by Duff Corporation. This year Simpson reports AGI of $55,600 and has incurred the following medical expenses:
Dentist charges | $ 1,490 |
---|---|
Physician charges | 2,600 |
Optical charges | 750 |
Cost of eyeglasses | 435 |
Hospital charges | 4,450 |
Prescription drugs | 485 |
Over-the-counter drugs | 815 |
Medical insurance premiums (not through an exchange) | 1,085 |
a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.
b. Suppose that Simpson was reimbursed for $290 of the physician's charges and $3,550 for the hospital costs. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.
Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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