Question
Hector and Melinda, both age 28, are married and together have AGI of $89,000 in 2016. They have two dependents and file a joint return.
Hector and Melinda, both age 28, are married and together have AGI of $89,000 in 2016. They have two dependents and file a joint return. They pay $2,000 for a high-deductible health insurance policy and contribute $1,000 to a qualified Health Savings Account (HSA). During the year, they paid the following amounts for medical care: $8,100 in doctor and dentist bills and hospital expenses and $2,600 for prescribed medicine and drugs. In November 2016, they received an insurance reimbursement of $3,900 for medical costs incurred. During the year, they drove their car 600 miles and incurred $100 in parking fees for medical purposes.
What amount (if any) is deductible for AGI?
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