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1.)Thomas had AGI of $32,000 in 2021. During the year, he paid the following medical expenses: Drugs (prescribed by physicians) $200 Marijuana (prescribed by physicians)
1.)Thomas had AGI of $32,000 in 2021. During the year, he paid the following medical expenses: Drugs (prescribed by physicians) $200 Marijuana (prescribed by physicians) $1,400 Health insurance premiums after taxes $850 Doctors fees $1,250 Eyeglasses $375 Over-the-counter drugs $200 What is Toms medical expense deduction for the year? 19.
2.)On June 30, 2021, Ron purchased an apartment building for $500,000. What is the cost recovery deduction for the year?
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