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Exercise 5-20 (Algorithmic) (LO. 2) Valentino is a patient in a nursing home for 63 days of 2020. While in the nursing home, he incurs
Exercise 5-20 (Algorithmic) (LO. 2) Valentino is a patient in a nursing home for 63 days of 2020. While in the nursing home, he incurs total costs of $28,728. Medicare pays $17,237 of the costs. Valentino receives $31,601 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 $380. Of the $31,601, what amount may Valentino exclude from his gross income
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