Question
Create a 1-2 page letter to the Powell's explaining their deductibility of their medial expenses by providing them a spreadsheet in Excel to calculate Denises
Create a 1-2 page letter to the Powell's explaining their deductibility of their medial expenses by providing them a spreadsheet in Excel to calculate Denises medical expense deduction. Use the formula for calculating a taxpayers medical expense deduction presented in your textbook in learning object 5.6 as a guide. Use the AGI you calculated for the couple in week 2 in your calculation. Make sure to properly label each medical expense and provide an explanation for any medical expenses that are nondeductible in the letter. Embed your spreadsheet into the letter.
During the current year Denise has paid the following medical expenses:
Drugs (prescribed by a physician | $1,850 |
Marijuana (prescribed by physician) | $2,125 |
Health Insurance Premiums After Taxes | $775 |
Doctors Fees | $1,450 |
Contact Lenses | $280 |
Over-the-Counter-Drugs | $325 |
Denise received $750 for a portion of her doctors fees from her insurance.
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