Nina, age 61, has been very ill this year and has a significant amount of medical...
Nina, age 61, has been very ill this year and has a significant amount of medical expenses, as listed below. Nina's AGI is $20,000.
What is the amount of her deduction for medical expenses?
• $1,200 in prescription drug costs
• $2,000 in doctor's bills not reimbursed by Nina's insurance
• $800 in travel expenses to see a specialist in another state
• $2,000 in health insurance premiums
Homework Answers
Solution:
Medical expense allowed as deduction is:
i)Health Insurance premium=$2000
ii)Prescription drug costs=$1200
iii)travel expenses to see a specialist in another state=$800
Thus total medical expense allowed as deduction is $4000.
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