Question
In 2022, Margaret and John Murphy (both over age 65) are married taxpayers who file a joint tax return with AGI of $27,507. During the
In 2022, Margaret and John Murphy (both over age
65) are married taxpayers who file a joint tax return with AGI of $27,507. During the year they incurred the following expenses:
>Medical insurance premiums - $1200
>Premiums on an insurance policy that pays $100 per day for each day Margaret is hospitalized -$400
> Medical care lodging (two people, one night) - $160
>Hospital bills - $2,500
>Herbal supplements - $75
>Dentist bills - $250
>Prescription drugs and medicines - $360
Cosmetic surgery - $400
In addition, they drove 122 miles (all before June
30) for medical transportation, and their insurance company reimbursed them $500 for thw above expenses. On the following segment of Schedule A of Form 1040, calculate the Murphy's medical expense deduction.
- Medical and dental expenses: $_____
- Enter amount from Form 1040 or 1040-SR: $27,507
- Multiply line 2 by 7.5% (0.075): $2063
- Subtract line 3 from line 1. If line 3 is more than line 1, enter 0: $_____
I have 2 and 3, I need 1 and 4. Thanks.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started