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Meg, a full-time employee of Doubletop, participates in the companys nondiscriminatory flexible spending plan. She contributes $1,200 both in 2020 and 2021. If Meg pays
Meg, a full-time employee of Doubletop, participates in the companys nondiscriminatory flexible spending plan. She contributes $1,200 both in 2020 and 2021. If Meg pays $1,100 of expenses in 2020 and $1,400 in 2021: a. For 2020, she may reduce gross income by $100 b. For 2021, she may deduct $1,400 as medical expenses c. For 2020 she gets back $100 from the spending plan d. For 2021 she may exclude $1,200 from gross income
Can you please show your work I got lost when she paid $1,100 of expenses in 2020 . Thank you!
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