Question
Jayden, a calendar year taxpayer, paid $16,000 in medical expenses and sustained a $20,000 casualty loss in 2016. He expects $12,000 of the medical expenses
Jayden, a calendar year taxpayer, paid $16,000 in medical expenses and sustained a $20,000 casualty loss in 2016. He expects $12,000 of the medical expenses and $14,000 of the casualty loss to be reimbursed by insurance companies in 2017. Before considering any limitations on these deductions, how much can Jayden include in determining his itemized deductions for 2016?
Before considering any limitations (or reductions) on deductions, Jayden can include $ of the medical expenses and $ of the casualty loss when determining his itemized deductions in 2016.
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