I:8-34 Medical Expense Deduction. During 2022, Angela sustains serious injuries from a snowskiing accident. She incurs the
Question:
I:8-34 Medical Expense Deduction. 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 Corporations Partnerships Estates And Trust 2023
ISBN: 9780137730391
36th Edition
Authors: KENNETH E. ANDERSON, DAVID S. HULSE, TIMOTHY J. RUPERT Richard J. Joseph LeAnn Luna