Required information [The following information applies to the questions display

Question

Required information

[The following information applies to the questions displayed below.]

Simpson is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $60,000 and has incurred the following medical expenses:

a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.

Dentist charges $ 1,270 Physician's charges 2,210 Optical charges 880 Cost of eyeglasses 305 Hospital charges 3,700 Prescription drugs 625 Over-the-counter drugs 515 Medical insurance premiums (not through an exchange) 1,260

Explanation / Answer

The amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations = $ 4,250

All expenses are qualified medical expenses except for the over-the-counterdrugs.

So, Medical expense deduction is $ 10,250 less $ 6,000(10 percent of 60,000) = $ 4,250 and this amount is included with Simpson’s other itemized deductions.

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.