During 2022, Angela sustains serious injuries from a snowskiing accident. She incurs the following expenses: Item.......................................................................................Amount Doctor
Question:
During 2022, Angela sustains serious injuries from a snowskiing accident. She incurs the following expenses:
Item.......................................................................................Amount
Doctor bills..........................................................................$11,700
Hospital bills............................................................................9,400
Legal fees in suit against ski resort......................................3,000
Angela is single and has no dependents. For the year, her salary is $58,000. She pays $600 in medical and dental insurance premiums, which is withheld from her paycheck on an after-tax basis, $6,750 in mortgage interest on her home, and $1,200 in interest on her car loan. Her health insurance provider reimburses her for $10,000 of the medical expenses. What is her 2021 taxable income?
Step by Step Answer:
Pearsons Federal Taxation 2023 Comprehensive
ISBN: 9780137840656
36th Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S Hulse