#8) Please Help!!
In 2020, Andrea sustains serious injuries from a snow-sking accident Click the icon to view the 2000 tax data) Click the icon to view the 2020 mod deduction) (Okt on to view the 2020 stable income o In 2021. Andrea receive an additional 57.700 in a settement of a string because of the Show-king codont. 54.500 of the settlement is to buy Andrea's medical and $3.200 lista remune malooal pesos En click the con to view the standard duction sched Requirement What is the proper tax treatment of this $7.700 ent? Bogin by doing the medical expenses and the total mized deductions with the woment Medical export Deductible medicale Choose from any list or enter any number in the input fields and then continue to the next question Hrarea accident Click the icon to view the 2020 tax data.) (Click the icon to view the 2020 itemized deductions.) (Click the icon to view the 2020 taxable income.) snow-skiing acci her legal expens (Click the ice Requirement What is the prop Total itemized deductions Now calculate the tax benefit of this $7,700 settlement. Minus: Deductions from AGI: Taxable income (assuming reimbursement was received in 2020) Minus: Tax benefit Choose from any list or enter any number in the input fields and then continue to the next question. Amuua sustains serious injuries from a snow-skiing ident. Click the icon to view the 2020 tax data.) i (Click the icon to view the 2020 itemized deductions.) i (Click the icon to view the 2020 taxable income.) In 2021. Andrea receives an additio snow-skiing accident. $4,500 of the her legal expenses (Click the icon to view the stand Requirement What is the proper tax treatment of Minus Deductions from AGI: Taxable income (assuming reimbursement was received in 2020) Minus Tax benefit What is the proper tax treatment of this $7.700 settlement? Androa must include in her gross income in 2021 because of the reimbursement. The reimbursement for the income to Andrea because legal fees Choose from any list or enter any number in the input fields and then continue to the next question Time Remain 8 of 8 (3 complete) * Schedule of Standard Deductions - X pil $ 24.800 S 18,650 $ 12.400 STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind: Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) S1,100. * These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind. 12.400 $1,300 $1,650 Print Done ma snow-skiing In 2021. Andrea receives an additional $7.700 in a settlement of a lawsuit arising because of the po of the settlement is to pay Andrea's medical bills, and $3,200 is to i More Info x les de The standard deduction schedule.) inod ment of this $7.700 settlement? $ 11,800 9,700 1,000 More Info - $ Doctor bills Hospital bills Medical and dental insurance Medical expenses Less Reimbursement 7.5% percent of AGI Deductible medical expenses Mortgage interest Total itemized doductions 62.000 22,500 (10,500) (4.650) 7.350 6,350 Adjusted gross income (AGI) Minus: Deductions from AGI: 30 (13.700) Itemized doductions Taxable income 48,300 org $ 13.700 OCE Print Dono int Print Done a spow.skiing lo 2021. Andrea receives an additional S7 700.in a settlement of Hreal i More Info ded! con In 2020, Andrea incurred the following expenses: Item Amount as re Doctor bills 11.800 Hospital bills 9,700 Legal fees in suit against ski resort 3,700 Andrea is single and has no dependents. For the year, her salary is $62,000. She pays $1,000 in medical and dental insurance premiums, which is withheld from her paycheck on an after-tax basis, $6,350 in mortgage interest on her home, and $1,270 in interest on her car loan. Her health insurance provider reimburses her for $10,500 of the medical expenses. O se er gra ecau Print Done in the moutheas and then continue to the next questions In 2020, Andrea sustains serious injuries from a snow-sking accident Click the icon to view the 2000 tax data) Click the icon to view the 2020 mod deduction) (Okt on to view the 2020 stable income o In 2021. Andrea receive an additional 57.700 in a settement of a string because of the Show-king codont. 54.500 of the settlement is to buy Andrea's medical and $3.200 lista remune malooal pesos En click the con to view the standard duction sched Requirement What is the proper tax treatment of this $7.700 ent? Bogin by doing the medical expenses and the total mized deductions with the woment Medical export Deductible medicale Choose from any list or enter any number in the input fields and then continue to the next question Hrarea accident Click the icon to view the 2020 tax data.) (Click the icon to view the 2020 itemized deductions.) (Click the icon to view the 2020 taxable income.) snow-skiing acci her legal expens (Click the ice Requirement What is the prop Total itemized deductions Now calculate the tax benefit of this $7,700 settlement. Minus: Deductions from AGI: Taxable income (assuming reimbursement was received in 2020) Minus: Tax benefit Choose from any list or enter any number in the input fields and then continue to the next question. Amuua sustains serious injuries from a snow-skiing ident. Click the icon to view the 2020 tax data.) i (Click the icon to view the 2020 itemized deductions.) i (Click the icon to view the 2020 taxable income.) In 2021. Andrea receives an additio snow-skiing accident. $4,500 of the her legal expenses (Click the icon to view the stand Requirement What is the proper tax treatment of Minus Deductions from AGI: Taxable income (assuming reimbursement was received in 2020) Minus Tax benefit What is the proper tax treatment of this $7.700 settlement? Androa must include in her gross income in 2021 because of the reimbursement. The reimbursement for the income to Andrea because legal fees Choose from any list or enter any number in the input fields and then continue to the next question Time Remain 8 of 8 (3 complete) * Schedule of Standard Deductions - X pil $ 24.800 S 18,650 $ 12.400 STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind: Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) S1,100. * These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind. 12.400 $1,300 $1,650 Print Done ma snow-skiing In 2021. Andrea receives an additional $7.700 in a settlement of a lawsuit arising because of the po of the settlement is to pay Andrea's medical bills, and $3,200 is to i More Info x les de The standard deduction schedule.) inod ment of this $7.700 settlement? $ 11,800 9,700 1,000 More Info - $ Doctor bills Hospital bills Medical and dental insurance Medical expenses Less Reimbursement 7.5% percent of AGI Deductible medical expenses Mortgage interest Total itemized doductions 62.000 22,500 (10,500) (4.650) 7.350 6,350 Adjusted gross income (AGI) Minus: Deductions from AGI: 30 (13.700) Itemized doductions Taxable income 48,300 org $ 13.700 OCE Print Dono int Print Done a spow.skiing lo 2021. Andrea receives an additional S7 700.in a settlement of Hreal i More Info ded! con In 2020, Andrea incurred the following expenses: Item Amount as re Doctor bills 11.800 Hospital bills 9,700 Legal fees in suit against ski resort 3,700 Andrea is single and has no dependents. For the year, her salary is $62,000. She pays $1,000 in medical and dental insurance premiums, which is withheld from her paycheck on an after-tax basis, $6,350 in mortgage interest on her home, and $1,270 in interest on her car loan. Her health insurance provider reimburses her for $10,500 of the medical expenses. O se er gra ecau Print Done in the moutheas and then continue to the next questions
