Question
For 2020, Erika and Matthew, ages 62 and 68, respectively, are married taxpayers who file a joint tax return with AGI of $60,000. During the
For 2020, Erika and Matthew, ages 62 and 68, respectively, are married taxpayers who file a joint tax return with AGI of $60,000. During the year they incurred the following expenses:
| Medical insurance premiums | $4,100 |
| Hospital bills (knee replacement for Matthew) | $5,300 |
| Hospital bills (face lift for Erika) | $6,500 |
| Doctor bills | $900 |
| Dentist bills | $100 |
| Prescription eyeglasses | $260 |
| Acupuncture treatments (for Matthew's knee pain prior to his operation) | $350 |
In addition, their insurance company reimbursed them $2,800 for the above expenses. Please calculate Erika and Matthews deduction for medical and dental expenses for 2020. Please keep in mind that you are solving for the final number to appear on their Schedule A. Please show all work.
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Info Business Fast Startup Guide For Beginners
Authors: Mr. Oleg Kolpakov
1st Edition
1539887685, 978-1539887683
