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It looks clear on all 3 of my computers and phone please let me know if this is better, I zoomed in and took different
It looks clear on all 3 of my computers and phone
please let me know if this is better, I zoomed in and took different pictures. thank you.
In 2019, Chelsea, a single taxpayer with no dependents, was severely hurt in a farm accident. Chelsea is 38 years old. The accident left Chelsea's legs 85% paralyzed. (Click the icon to view additional information on expenses paid.) Chelsea has no other itemized deductions in either year. (Click the icon to view the standard deduction schedule.) Read the requirements Requirement a. What is Chelsea's taxable income for 2019? Begin by calculating the qualified medical expense deduction for 2019. (If an input field is not used in the table leave the input field(s) empty, do not select a label or enter a zero.) Hospital bills 10,000 Excess cost of pool over increased value of home 2,000 Maintenance of pool 1.100 Medical insurance premium 1,400 Wheelchair 2.300 Medical expenses Less: 10% percent of AGI 16,800 (4,200) 12,600 Qualified medical expense deduction Now calculate Chelsea's 2019 taxable income. Adjusted gross income (AGI) Minus: Deductions from AGI: Itemized deductions 42,000 (12,600) 29,400 Taxable income Requirement b. What is Chelsea's medical expense deduction for 2020? How does she treat the reimbursement? First, let's determine the proper treatment for the reimbursement of the medical expense. Chelsea's adjusted gross income will be increased by $ 400 Now, calculate Chelsea's qualified medical expense deduction for 2020. (If an input field is not used in the table leave the input field(s) empty, do not select a label or enter a zero.) Medical expenses Less: Qualified medical expenses deduction -ea's me AA... X er treal More Info s incor ified Id(s) After incurring $10,000 of medical expenses at the hospital, the doctor recommended that Chelsea install a pool at her home for therapy. The pool cost $33,000 to install and increased the value of her home by $31,000. She spent $1,100 maintaining the pool in 2019 and $1,250 in 2020. Chelsea also purchased a wheelchair on December 28, 2019, for $2,300, which she charged to her credit card. She paid her credit card bill on January 6, 2020. She also purchased a hospital bed for $4,100 but did not pay for the bed until 2020. Chelsea paid her physical therapist $4,200 for services performed in 2020. Chelsea paid $1,400 in medical insurance premiums on an after-tax basis in both 2019 and 2020. In 2020, the insurance company reimbursed Chelsea $10,200 for her hospital stay in 2019. Her AGI for 2019 and 2020 is $42,000 and $47,000, respectively, not considering any of the above items. Note: At the time the book was printed, the percentage of AGI was 10% for 2019. In Dec. 2019, the rate changed to 7.5%. 10% was used for this question. educt Print Done Schedule of Standard Deductions et al er $ $ 24.400 18,350 12,200 $ STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind. $ 12,200 $1,300* $1,650 al nel Print Done Requirements a. b. What is Chelsea's taxable income for 2019? What is Chelsea's medical expense deduction for 2020? How does she treat the reimbursement? Id Print Done In 2019, Chelsea, a single taxpayer with no dependents, was severely hurt in a farm accident. Chelsea is 38 years old. The accident left Chelsea's legs 85% paralyzed (Click the icon to view additional information on expenses paid.) Chelsea has no other itemized deductions in either year. (Click the icon to view the standard deduction schedule.) Read the requirements Requirement a. What is Chelsea's taxable income for 2019? Begin by calculating the qualified medical expense deduction for 2019. (If an input field is not used in the table leave the input field(s) empty, do not enter a zero.) Hospital bills 10,000 Excess cost of pool over increased value of home 2,000 Maintenance of pool 1,100 Medical insurance premium 1,400 Wheelchair 2,300 Medical expenses Less: 10% percent of AGI 16,800 (4,200) 12,600 Qualified medical expense deduction Now calculate Chelsea's 2019 taxable income. Adjusted gross income (AGI) Minus: Deductions from AGI: Itemized deductions 42,000 (12,600) Taxable income 29,400 Requirement b. What is Chelsea's medical expense deduction for 2020? How does she treat the reimbursement? First, let's determine the proper treatment for the reimbursement of the medical expense. adjusted gross income will be increased by 400 Now, calculate Chelsea's qualified medical expense deduction for 2020. (If an input field is not used in the table leave the input field(s) empty, do not or enter a zero.) Chelsea's $ Medical expenses Less: Qualified medical expenses deduction Requirement b. What is Chelsea's medical expense deduction for 2020? How does she treat the reimbursement? First, let's determine the proper treatment for the reimbursement of the medical expense. Chelsea's adjusted gross income will be increased by $ 400 Now, calculate Chelsea's qualified medical expense deduction for 2020. (If an input field is not used in the table leave th or enter a zero.) 10% percent of AGI Cost of pool Excess cost of pool over increased value of home Hospital bed Hospital bills Maintenance of pool Medical insurance premium Physical therapy Reimbursement Wheelchair X a i More Info After incurring $10,000 of medical expenses at the hospital, the doctor recommended that Chelsea install a pool at her home for therapy. The pool cost $33,000 to install and increased the value of her home by $31,000. She spent $1,100 maintaining the pool in 2019 and $1,250 in 2020. Chelsea also purchased a wheelchair on December 28, 2019, for $2,300, which she charged to her credit card. She paid her credit card bill on January 6, 2020. She also purchased a hospital bed for $4,100 but did not pay for the bed until 2020. Chelsea paid her physical therapist $4,200 for services performed in 2020. Chelsea paid $1,400 in medical insurance premiums on an after-tax basis in both 2019 and 2020. In 2020, the insurance company reimbursed Chelsea $10,200 for her hospital stay in 2019. Her AGI for 2019 and 2020 is $42,000 and $47,000, respectively, not considering any of the above items. Note: At the time the book was printed, the percentage of AGI was 10% for 2019. In Dec. 2019, the rate changed to 7.5%. 10% was used for this question. Print Done X Schedule of Standard Deductions $ $ $ STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind. 24,400 18,350 12,200 12,200 $1,300* $ $1,650* Print Done AROLL Requirements What is Chelsea's taxable income for 2019? b. What is Chelsea's medical expense deduction for 2020? How does she treat the reimbursement? Print Done In 2019, Chelsea, a single taxpayer with no dependents, was severely hurt in a farm accident. Chelsea is 38 years old. The accident left Chelsea's legs 85% paralyzed. (Click the icon to view additional information on expenses paid.) Chelsea has no other itemized deductions in either year. (Click the icon to view the standard deduction schedule.) Read the requirements Requirement a. What is Chelsea's taxable income for 2019? Begin by calculating the qualified medical expense deduction for 2019. (If an input field is not used in the table leave the input field(s) empty, do not select a label or enter a zero.) Hospital bills 10,000 Excess cost of pool over increased value of home 2,000 Maintenance of pool 1.100 Medical insurance premium 1,400 Wheelchair 2.300 Medical expenses Less: 10% percent of AGI 16,800 (4,200) 12,600 Qualified medical expense deduction Now calculate Chelsea's 2019 taxable income. Adjusted gross income (AGI) Minus: Deductions from AGI: Itemized deductions 42,000 (12,600) 29,400 Taxable income Requirement b. What is Chelsea's medical expense deduction for 2020? How does she treat the reimbursement? First, let's determine the proper treatment for the reimbursement of the medical expense. Chelsea's adjusted gross income will be increased by $ 400 Now, calculate Chelsea's qualified medical expense deduction for 2020. (If an input field is not used in the table leave the input field(s) empty, do not select a label or enter a zero.) Medical expenses Less: Qualified medical expenses deduction -ea's me AA... X er treal More Info s incor ified Id(s) After incurring $10,000 of medical expenses at the hospital, the doctor recommended that Chelsea install a pool at her home for therapy. The pool cost $33,000 to install and increased the value of her home by $31,000. She spent $1,100 maintaining the pool in 2019 and $1,250 in 2020. Chelsea also purchased a wheelchair on December 28, 2019, for $2,300, which she charged to her credit card. She paid her credit card bill on January 6, 2020. She also purchased a hospital bed for $4,100 but did not pay for the bed until 2020. Chelsea paid her physical therapist $4,200 for services performed in 2020. Chelsea paid $1,400 in medical insurance premiums on an after-tax basis in both 2019 and 2020. In 2020, the insurance company reimbursed Chelsea $10,200 for her hospital stay in 2019. Her AGI for 2019 and 2020 is $42,000 and $47,000, respectively, not considering any of the above items. Note: At the time the book was printed, the percentage of AGI was 10% for 2019. In Dec. 2019, the rate changed to 7.5%. 10% was used for this question. educt Print Done Schedule of Standard Deductions et al er $ $ 24.400 18,350 12,200 $ STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind. $ 12,200 $1,300* $1,650 al nel Print Done Requirements a. b. What is Chelsea's taxable income for 2019? What is Chelsea's medical expense deduction for 2020? How does she treat the reimbursement? Id Print Done In 2019, Chelsea, a single taxpayer with no dependents, was severely hurt in a farm accident. Chelsea is 38 years old. The accident left Chelsea's legs 85% paralyzed (Click the icon to view additional information on expenses paid.) Chelsea has no other itemized deductions in either year. (Click the icon to view the standard deduction schedule.) Read the requirements Requirement a. What is Chelsea's taxable income for 2019? Begin by calculating the qualified medical expense deduction for 2019. (If an input field is not used in the table leave the input field(s) empty, do not enter a zero.) Hospital bills 10,000 Excess cost of pool over increased value of home 2,000 Maintenance of pool 1,100 Medical insurance premium 1,400 Wheelchair 2,300 Medical expenses Less: 10% percent of AGI 16,800 (4,200) 12,600 Qualified medical expense deduction Now calculate Chelsea's 2019 taxable income. Adjusted gross income (AGI) Minus: Deductions from AGI: Itemized deductions 42,000 (12,600) Taxable income 29,400 Requirement b. What is Chelsea's medical expense deduction for 2020? How does she treat the reimbursement? First, let's determine the proper treatment for the reimbursement of the medical expense. adjusted gross income will be increased by 400 Now, calculate Chelsea's qualified medical expense deduction for 2020. (If an input field is not used in the table leave the input field(s) empty, do not or enter a zero.) Chelsea's $ Medical expenses Less: Qualified medical expenses deduction Requirement b. What is Chelsea's medical expense deduction for 2020? How does she treat the reimbursement? First, let's determine the proper treatment for the reimbursement of the medical expense. Chelsea's adjusted gross income will be increased by $ 400 Now, calculate Chelsea's qualified medical expense deduction for 2020. (If an input field is not used in the table leave th or enter a zero.) 10% percent of AGI Cost of pool Excess cost of pool over increased value of home Hospital bed Hospital bills Maintenance of pool Medical insurance premium Physical therapy Reimbursement Wheelchair X a i More Info After incurring $10,000 of medical expenses at the hospital, the doctor recommended that Chelsea install a pool at her home for therapy. The pool cost $33,000 to install and increased the value of her home by $31,000. She spent $1,100 maintaining the pool in 2019 and $1,250 in 2020. Chelsea also purchased a wheelchair on December 28, 2019, for $2,300, which she charged to her credit card. She paid her credit card bill on January 6, 2020. She also purchased a hospital bed for $4,100 but did not pay for the bed until 2020. Chelsea paid her physical therapist $4,200 for services performed in 2020. Chelsea paid $1,400 in medical insurance premiums on an after-tax basis in both 2019 and 2020. In 2020, the insurance company reimbursed Chelsea $10,200 for her hospital stay in 2019. Her AGI for 2019 and 2020 is $42,000 and $47,000, respectively, not considering any of the above items. Note: At the time the book was printed, the percentage of AGI was 10% for 2019. In Dec. 2019, the rate changed to 7.5%. 10% was used for this question. Print Done X Schedule of Standard Deductions $ $ $ STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind. 24,400 18,350 12,200 12,200 $1,300* $ $1,650* Print Done AROLL Requirements What is Chelsea's taxable income for 2019? b. What is Chelsea's medical expense deduction for 2020? How does she treat the reimbursement? Print DoneStep by Step Solution
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