Simpson, age 45, is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $69,200 and has incurred the following medical expenses: Dentist charges $ 1,600 Physician charges 2,450 Optical charges 875 Cost of eyeglasses 715 Hospital charges 4,350 Prescription drugs 575 Over-the-counter drugs 820 Medical insurance premiums (not through an exchange) 1,200 a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.
Simpson, age 45, is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $69,200 and has incurred the following medical expenses: Dentist charges $ 1,600 Physician charges 2,450 Optical charges 875 Cost of eyeglasses 715 Hospital charges 4,350 Prescription drugs 575 Over-the-counter drugs 820 Medical insurance premiums (not through an exchange) 1,200 a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.
Chapter8: Taxation Of Individuals
Section: Chapter Questions
Problem 30P
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Simpson, age 45, is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $69,200 and has incurred the following medical expenses:
Dentist charges | $ | 1,600 |
Physician charges | 2,450 | |
Optical charges | 875 | |
Cost of eyeglasses | 715 | |
Hospital charges | 4,350 | |
Prescription drugs | 575 | |
Over-the-counter drugs | 820 | |
Medical insurance premiums (not through an exchange) | 1,200 | |
a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.
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