ie is divorced and 45 years old. In 2017, he had AGI of $55,000. During the...
Medical Expenses (LO 5.6) In 2018, Margaret and John Murphy (age 66 and 68, respectively) are married taxpayers who file a joint tax return with AGI of $25,400. During the year they incurred the following expenses: Medical insurance premiums $1,150 400 Premiums on an insurance policy that pays $100 per day for each day Margaret is hospitalized Medical care lodging (two people, one night Hospital bills Doctor bills Dentist bills Prescription drugs and medicines Psychiatric care 65 2,100 850 175...
Reggie, who is 55, had AGI of $20,400 in 2017. During the year, he paid the following medical expenses: Drugs (prescribed by physicians) $ 210 Marijuana (prescribed by physicians) 1,410 Health insurance premiums–after taxes 860 Doctors’ fees 1,260 Eyeglasses 385 Over-the-counter drugs 210 Reggie received $510 in 2017 for a portion of the doctors’ fees from his insurance. What is Reggie’s medical expense deduction?
Interview Notes • Archie Hamilton is 45 years old and single. • Archie had wage income of $55,000. He also had gambling winnings of $1,000. • He is not sure if he should itemize or take the standard deduction. Archie paid the following: • $5,200 qualifying home mortgage interest. • $9,507 for real estate taxes. • $5,040 for state income taxes withheld in 2019. • Unreimbursed doctor and dentist bills in the amount of $7,000. • Unreimbursed prescription drugs for...