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Billy, single and age 42, has the following items of income and expense for the current tax year. Wages: $60,000 Interest: $1,000 Inheritance: $50,000 Alimony
Billy, single and age 42, has the following items of income and expense for the current tax year.
Wages: $60,000
Interest: $1,000
Inheritance: $50,000
Alimony paid: $10,000 (2016 divorce decree)
Child support paid: $8,000
Federal taxes paid: $5,000
State income taxes paid: $2,000
Medical expenses: $7,500
How much of the medical expenses will he deduct on his Schedule A?
a. $0.
b. $2,400.
c. $5,100
d. $7,500.
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