Rebecca and Irving incur the following medical expenses during 2020: Medical insurance premiums $4,505 Hospital 970 Doctors 1,885 Dentist 600 Veterinarian 165 Chiropractor 230 Cosmetic surgery 1,555 Over-the-counter drugs 150 Prescription drugs 195 Crutches 100
Rebecca and Irving incur the following medical expenses during 2020: Medical insurance premiums $4,505 Hospital 970 Doctors 1,885 Dentist 600 Veterinarian 165 Chiropractor 230 Cosmetic surgery 1,555 Over-the-counter drugs 150 Prescription drugs 195 Crutches 100
Chapter8: Taxation Of Individuals
Section: Chapter Questions
Problem 30P
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Transcribed Image Text:Rebecca and Irving incur the following medical expenses during 2020:
Medical insurance premiums
$4,505
Hospital
970
Doctors
1,885
Dentist
600
Veterinarian
165
Chiropractor
230
Cosmetic surgery
1,555
Over-the-counter drugs
150
Prescription drugs
195
Crutches
100
They receive $4,125 in reimbursements from their insurance company of which $270 is for the cosmetic surgery.
Refer to Exhibit 8-2 to answer the following questions. If an amount is zero, enter "0".
What is their medical expense deduction if their adjusted gross income is the following:
a. Adjusted gross income of $42,000. Their medical expense deduction is $
b. Adjusted gross income of $71,000. Their medical expense deduction is $
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT