A taxpayer gets hit really hard with a respiratory illness and has to take a lot of time off of work. They meet their deductible and then insurance pays the rest. When they're reconciling at the end of the year, they realize that they received $1,500 more than they are able to claim as valid medical expenses. What is the tax implication of these values?

Answer rating: 100% (QA)

Answer In this scenario the taxpayer has incurred medical expenses due to a respiratory illness Lets break down the tax implications based on the info... View the full answer