Homework Answers
Answer:-
a)
Deduct everything exepct the over the counter drugs.
= 1560 + 1980 + 815 + 430 + 4200 + 610 + 985 - (61600×10%)
= 10580 - 6160 =$ 4420
b)Now the doctor's charges and hostpital costs aren't included.
= 10580 - 250 - 1200 - 6160
= $2970
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Required Information [The following information applies to the questions displayed below) Simpson, age 45, is a...
Required information (The following information applies to the questions displayed below.) Simpson, age 45, is a...
Required information (The following information applies to the questions displayed below.) Simpson, age 45, is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $51,000 and has incurred the following medical expenses: $1,680 2,310 720 Dentist charges Physician charges Optical charges Cost of eyeglasses Hospital charges Prescription drugs Over-the-counter drugs Medical insurance premiums (not through an exchange) 640 3,000 365 705 975 a. Calculate the amount of medical expenses that will be included...
Required information l The following information applies to the questions displayed below.] Simpson, age 45, is a single individual who is employed full-time by Duff Corporation. This year Simpson re...
Required information l The following information applies to the questions displayed below.] Simpson, age 45, is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $50,000 and has incurred the following medical expenses: Dentist charges Physician charges Optical charges Cost of eyeglasses Hospital charges Prescription drugs Over-the-counter drugs Medical insurance premiums (not $ 900 1,800 500 300 2,100 250 450 through an exchange) 775 a. Calculate the amount of medical expenses that will...
! Required information [The following information applies to the questions displayed below.] Simpson, age 45, is...
! Required information [The following information applies to the questions displayed below.] Simpson, age 45, is a single individual who is employed full time by Duff Corporation. This year Simpson reports AGI of $50,000 and has incurred the following medical expenses: Dentist charges Physician charges Optical charges Cost of eyeglasses Hospital charges Prescription drugs Over-the-counter drugs Medical insurance premiums (not through an exchange) $ 900 1,800 500 300 2,100 250 450 775 a. Calculate the amount of medical expenses that...
Required information [The following information applies to the questions displayed below.] Simpson, age 45, is a...
Required information [The following information applies to the questions displayed below.] Simpson, age 45, is a single individual who is employed full time by Duff Corporation. This year Simpson reports AGI of $50,000 and has incurred the following medical expenses: Dentist charges Physician charges Optical charges Cost of eyeglasses Hospital charges Prescription drugs Over-the-counter drugs Medical insurance premiums (not through an exchange) $ 900 1,800 500 300 2,100 250 450 775 b. Suppose that Simpson was reimbursed for $250 of...
Simpson, age 45, is a single individual who is employed full-time by Duff Corporation. This year...
Simpson, age 45, is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $69,600 and has incurred the following medical expenses: Dentist charges $ 1,430 Physician charges 2,220 Optical charges 560 Cost of eyeglasses 670 Hospital charges 3,300 Prescription drugs 695 Over-the-counter drugs 800 Medical insurance premiums (not through an exchange) 945 a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations. Medical expenses----------------------?...
a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after...
a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations. Medical expenses b. Suppose that Simpson was reimbursed for $250 of the physician's charges and $1,200 for the hospital costs. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations. Medical expenses Required information [The following information applies to the questions displayed below. Simpson, age 45, is a single individual who is employed...
Simpson is a single individual who is employed full-time by Duff Corporation. This year Simpson reports...
Simpson is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $54,000 and has incurred the following medical expenses: Dentist charges Physician's charges Optical charges Cost of eyeglasses Hospital charges Prescription drugs Over-the-counter drugs Medical insurance premiums (not through an exchange) 1,120 $1,880 2,760 605 525 4,500 275 805
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Required information [The following information applies to the questions displayed below.) Smithers is a self-employed individual who earns $44,000 per year in self-employment income. Smithers pays $2,700 in annual health insurance premiums (not through an exchange) for his own medical care. In each of the following situations, determine the amount of the deductible health insurance premium for Smithers before any AGI limitation. a. Smithers is single, and the self-employment income is his only source of income. Deductible as a for...
Required Information [The following information applies to the questions displayed below.) Smithers is a self-employed Individual...
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Required information (The following information applies to the questions displayed below.) Simpson, age 45, is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $51,000 and has incurred the following medical expenses: $1,680 2,310 720 Dentist charges Physician charges Optical charges Cost of eyeglasses Hospital charges Prescription drugs Over-the-counter drugs Medical insurance premiums (not through an exchange) 640 3,000 365 705 975 a. Calculate the amount of medical expenses that will be included...
Required information l The following information applies to the questions displayed below.] Simpson, age 45, is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $50,000 and has incurred the following medical expenses: Dentist charges Physician charges Optical charges Cost of eyeglasses Hospital charges Prescription drugs Over-the-counter drugs Medical insurance premiums (not $ 900 1,800 500 300 2,100 250 450 through an exchange) 775 a. Calculate the amount of medical expenses that will...
! Required information [The following information applies to the questions displayed below.] Simpson, age 45, is a single individual who is employed full time by Duff Corporation. This year Simpson reports AGI of $50,000 and has incurred the following medical expenses: Dentist charges Physician charges Optical charges Cost of eyeglasses Hospital charges Prescription drugs Over-the-counter drugs Medical insurance premiums (not through an exchange) $ 900 1,800 500 300 2,100 250 450 775 a. Calculate the amount of medical expenses that...
Required information [The following information applies to the questions displayed below.] Simpson, age 45, is a single individual who is employed full time by Duff Corporation. This year Simpson reports AGI of $50,000 and has incurred the following medical expenses: Dentist charges Physician charges Optical charges Cost of eyeglasses Hospital charges Prescription drugs Over-the-counter drugs Medical insurance premiums (not through an exchange) $ 900 1,800 500 300 2,100 250 450 775 b. Suppose that Simpson was reimbursed for $250 of...
a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations. Medical expenses b. Suppose that Simpson was reimbursed for $250 of the physician's charges and $1,200 for the hospital costs. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations. Medical expenses Required information [The following information applies to the questions displayed below. Simpson, age 45, is a single individual who is employed...
Simpson is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $54,000 and has incurred the following medical expenses: Dentist charges Physician's charges Optical charges Cost of eyeglasses Hospital charges Prescription drugs Over-the-counter drugs Medical insurance premiums (not through an exchange) 1,120 $1,880 2,760 605 525 4,500 275 805
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Required Information [The following information applies to the questions displayed below.) Smithers is a self-employed Individual who earns $30,000 per year in self-employment Income. Smithers pays $2,200 in annual health Insurance premiums (not through an exchange) for his own medical care. In each of the following situations, determine the amount of the deductible health Insurance premlum for Smithers before any AGI limitation. a. Smithers Is single and the self-employment Income is his only source of income. Deductible as either a...
Required information The following information applies to the questions displayed below.) Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2019. She is 45 years old and has been divorced for four years. She receives $1,200 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small apartment building. This year Reba received $50,000 of rental payments from tenants and she incurred $19,500 of expenses associated with the...
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