Sammy and Monica, both age 67, incur and pay medical expenses in excess of insur
ID: 2562162 • Letter: S
Question
Sammy and Monica, both age 67, incur and pay medical expenses in excess of insurance reimbursements during the year as follows.
Sammy and Monica's AGI is $130,000. They file a joint return. Chuck and Carter are Sammy and Monica's dependents.
What is Sammy and Monica's medical expense deduction for regular income tax purposes?
Sammy and Monica's medical expense deduction for regular income tax purposes is $ __________.
For Monica (spouse) For Chuck (son) For Carter (Monica's father) $16,000 4,000 2,500 5,000Explanation / Answer
All medical expenses are eligible for medical deduction. Medical Expense Deduction = $27,500 - ($130,000 X 7.50%) Medical Expense Deduction = $27,500 - $9,750 Medical Expense Deduction = $17,750
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.