Brad, adjusted gross income of $90,000 during the year. Brad paid the following medical expenses in...

Question

Question

Brad, adjusted gross income of $90,000 during the year. Brad paid the following medical expenses in 2019, none of which were

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1


	Amount in $
Total Medical Expense	22,350
Less: 10% of Adjusted gross income	9000	( 90,000 x 10% )
Allowable medical expense deduction	13,350

Correct answer is option b (i.e. $ 13,350 ).

Add a comment

Answer 2

Similar Homework Help Questions

Itemized Deductions (LO. 4) Rebecca and Irving incur the following medical expenses during 2018: Medical insurance...

Itemized Deductions (LO. 4) Rebecca and Irving incur the following medical expenses during 2018: Medical insurance premiums $4,655 Hospital 970 Doctors 2,035 Dentist 595 Veterinarian 200 Chiropractor 225 Cosmetic surgery 1,405 Over-the-counter drugs 160 Prescription drugs 195 Crutches 110 They receive $3,815 in reimbursements from their insurance company of which $295 is for the cosmetic surgery. Refer to Exhibit 8-2 to answer the following questions. What is their medical expense deduction if their adjusted gross income is the following: a....
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 foll...

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...
10. Archie can claim total deductible medical expenses that exceed 7.5% of his adjusted gross income. a. True b. False...

10. Archie can claim total deductible medical expenses that exceed 7.5% of his adjusted gross income. a. True b. False 11. What is the total amount of state income and real estate taxes deductible on Archie's Form 1040, Schedule A? a. $14,597 b. $14,547 c. $10,000 d. $9,507 12. Which of the following is Archie able to claim as a deduction on his Form 1040, Schedule A? a. Investment expense b. Tax preparation fee c. Gambling losses d. None of...

Which of the following is not an allowable itemized deduction from adjusted gross income? Medical expenses....

Which of the following is not an allowable itemized deduction from adjusted gross income? Medical expenses. Home mortgage interest. Alimony paid. Charitable contribut
Tom Lewis, an individual taxpayer, had an adjusted gross income of $40,000 on his current-year tax...

Tom Lewis, an individual taxpayer, had an adjusted gross income of $40,000 on his current-year tax return. He incurred the following medical expenses this year: Doctor fees for various illnesses $5,000 Prescription medicine and drugs 1,000 Medical insurance premiums 3,000 Over-the-counter cold medicine and vitamins 300 He received insurance reimbursements of $4,000 on the amounts. Under the tax regulations effective January 1, 2019, what is the net medical expense deduction that Tom may take for the current year as an itemized deduction? $8,000 $8,300...
Aaron, single, age 43, had AGI of $60,000 for 2019. He paid the following medical expenses...

Aaron, single, age 43, had AGI of $60,000 for 2019. He paid the following medical expenses in 2019: Hospital expenses - skiing accident $5,600 Doctor bills & Prescriptions 1,400 Surgeon to get a nose job (not related to skiing injury) 5,000 Medical expenses he paid for his child (claimed by his former wife as a dependent). 1,200 Nursing care expenses for Aaron’s dependent Father, including $600 for cable TV for his room. 6,000 Medical and dental premiums (his share), deducted...

In 2018, David, age 66, had adjusted gross income of $27,000. During the year he paid...

In 2018, David, age 66, had adjusted gross income of $27,000. During the year he paid the following medical expenses: Prescription medicines $275Doctors $1350 Health insurance premiums insurance $400 Two pairs of eyeglasses $185 What amount can David deduct as medical expenses (after the adjusted gross income limitation) in calculating his itemized deductions for 2018? A $2710 b $2025 c $185 d $0
Gleim 6 Deductions from AGI [1] Which one of the following expenses does not qualify as...

Gleim 6 Deductions from AGI [1] Which one of the following expenses does not qualify as a deductible medical expense? A. Cost of long-term care for a developmentally disabled person in a relative’s home. B. Special school for a deaf child to learn lip reading. C. Cost of elevator installed for individual who had heart bypass surgery (in excess of increase in value of individual’s home). D. Cost and care of guide dogs used by a blind person in his...
Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first...

Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first summer job. Even though his parents are claiming him as a dependent he wants to file a return in order to get his refund. He receives his W-2 and decides he can do his own return using form 1040-EZ. Which of the following information is not found on a Form W-2? a) The taxpayer’s Social Security number b) The taxpayer’s wages, tips and other...

Brad, adjusted gross income of $90,000 during the year. Brad paid the following medical expenses in...

Homework Answers

Add Answer to:
Brad, adjusted gross income of $90,000 during the year. Brad paid the following medical expenses in...

Post as a guest

Earn Coins

Itemized Deductions (LO. 4) Rebecca and Irving incur the following medical expenses during 2018: Medical insurance...

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 foll...

10. Archie can claim total deductible medical expenses that exceed 7.5% of his adjusted gross income. a. True b. False...

Which of the following is not an allowable itemized deduction from adjusted gross income? Medical expenses....

Tom Lewis, an individual taxpayer, had an adjusted gross income of $40,000 on his current-year tax...

Aaron, single, age 43, had AGI of $60,000 for 2019. He paid the following medical expenses...

In 2018, David, age 66, had adjusted gross income of $27,000. During the year he paid...

Gleim 6 Deductions from AGI [1] Which one of the following expenses does not qualify as...

Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first...

Brad, adjusted gross income of $90,000 during the year. Brad paid the following medical expenses in...

Homework Answers

Add Answer to: Brad, adjusted gross income of $90,000 during the year. Brad paid the following medical expenses in...

Post as a guest

Earn Coins

Add Answer to:
Brad, adjusted gross income of $90,000 during the year. Brad paid the following medical expenses in...