LO.1, 2 Erin, who prepared her own income tax return for the current year, failed to claim
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LO.1, 2 Erin, who prepared her own income tax return for the current year, failed to claim a deduction for her contribution to a traditional Individual Retirement Account
(IRA). Her AGI, as reported on the incorrect return, was $100,000, and her medical expenses were $10,000.
a. Will the correction of this omission affect the amount of medical expenses Erin can deduct? Explain.
b. Will Erin’s medical expense deduction increase or decrease when she corrects her return?
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Related Book For
South Western Federal Taxation 2013 Individual Income Taxes
ISBN: 9781133189558
36th Edition
Authors: William Hoffman, James E. Smith
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