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Exercise 5-20 (Algorithmic) (LO. 2) Valentino is a patient in a nursing home for 54 days of 2022. While in the nursing home, he
Exercise 5-20 (Algorithmic) (LO. 2) Valentino is a patient in a nursing home for 54 days of 2022. While in the nursing home, he incurs total costs of $25,272. Medicare pays $15,163 of the costs. Valentino receives $27,799 from his long-term care insurance policy, which pays while he is in the facility. Assume that the Federal daily excludible amount for Valentino is $390. Of the $27,799, what amount may Valentino exclude from his gross income? 21,902 X
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