____ 29. Al single, age 70, and has gross income of $100,000. His deductible exp
ID: 376797 • Letter: #
Question
____ 29. Al single, age 70, and has gross income of $100,000. His deductible expenses are as follows:
Alimony
$9,000
Charitable contributions
5,000
Contribution to a traditional IRA
4,000
Medical expenses
11,850
State income taxes
4,000
Expenses paid on rental property
8,000
Unreimbursed moving expenses to a new job in a new city (400 miles away)
1,000
Interest on home mortgage and property taxes on personal residence
8,000
State income tax
9,000
What is Al’s medical deduction ? Please select the correct answer and why (include a brief description).
a.
$2,300.
b.
$7,700.
c.
$6,000.
d.
$7,700.
e.
None of the above.
Alimony
$9,000
Charitable contributions
5,000
Contribution to a traditional IRA
4,000
Medical expenses
11,850
State income taxes
4,000
Expenses paid on rental property
8,000
Unreimbursed moving expenses to a new job in a new city (400 miles away)
1,000
Interest on home mortgage and property taxes on personal residence
8,000
State income tax
9,000
Explanation / Answer
The Al’s medical deductions are $ 11,850. The correct answer is None of these i.e. (e). The Al single is about 70 years old. He has the gross income of $ 100,000 but he have the certain expenses to pay from the gross income so the medical expenses he have to pay is $ 11,850 given in the deductible expenses list.
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