In 2014, Margaret and John Murphy (both over age 65) are married taxpayers who file a joint
Question:
In 2014, Margaret and John Murphy (both over age 65) are married taxpayers who file a joint tax return with AGl of $25,000. During the year they incurred the following expenses:
Medical insurance premiums………………………………………………. $1,050
Premiums on an insurance policy that pays $100 per……………………… 300
day for each day Margaret is hospitalized
Medical care lodging (two people, one night) …………………………….. 65
Hospital bills……….………………………………………………………. 2,200
Doctor bills…………………………………………………………………. 850
Dentist bills…………………………………………………………………. 175
Prescription drugs and medicines…………………………………………… 340
Psychiatric care……………………………………………………………… 300
In addition, they drove 78 miles for medical transportation, 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 medical expense deduction.Step by Step Answer:
Income Tax Fundamentals 2015
ISBN: 9781305177772
33rd Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill