Question

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 2,100 850 175 340 350 In addition, they drove 83 miles for medical t medical and their insurance company reimbursed them $900 for the above expenses. On the following segment of Schedule A of Form 1040, calculate the Murphy's l expense deduction If required, round any amount to the nearest dollar. Enter all amounts as positive numbers. Caution. Do not include expenses reimbursed or paid by others Medical 1 Medical and dental expenses (see instructions) and Dental Expenses 3 Multiply line 2 by 7.5% (.075) 2 Enter amount from Form 1040, line 7 4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -o

Answer 1

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