paragraph for each question. You must properly include the primary source citation to support your answer. IRS Publications are not acceptable citations for answering these questions. 1. This year Bob who is 56, is considering enrolling in an insurance program that provides for long-term care insurance. He wants to know whether the insurance premiums are deductible as a medical expense and if so how much can he deduct in any one year? 2. Using the Internal Revenue Code, describe two deductions for AGI that are not discussed in Chapter 6 of the textbook. 3. Jay embezzled $20,000 from his employer but has not yet been discovered or apprehended. Does Jay have economic income, and if so determine whether it must be included in his gross income? 4. Heather paid $15,000 to join a country club in order to meet potential clients. This year she paid $4,300 in greens fees when golfing with clients. Under what circumstances, if any, can Heather deduct the $15,000 cost of country club dues and/or the $4,300 costs of the golf played with clients? s Doug Jones timely submitted his 2017 tax return and elected married filing jointly status with his wife Darlene. Doug and Darlene did not request an extension. They owed and payed $124,000 for their 2017 tax year. In 2019, Doug amends his return and claims MFS status. By changing his filing status, Doug sought a refund for an overpayment. Is Doug allowed to change his filing status for the 2017 tax year and receive a tax refund with his amended return after the due date? paragraph for each question. You must properly include the primary source citation to support your answer. IRS Publications are not acceptable citations for answering these questions. 1. This year Bob who is 56, is considering enrolling in an insurance program that provides for long-term care insurance. He wants to know whether the insurance premiums are deductible as a medical expense and if so how much can he deduct in any one year? 2. Using the Internal Revenue Code, describe two deductions for AGI that are not discussed in Chapter 6 of the textbook. 3. Jay embezzled $20,000 from his employer but has not yet been discovered or apprehended. Does Jay have economic income, and if so determine whether it must be included in his gross income? 4. Heather paid $15,000 to join a country club in order to meet potential clients. This year she paid $4,300 in greens fees when golfing with clients. Under what circumstances, if any, can Heather deduct the $15,000 cost of country club dues and/or the $4,300 costs of the golf played with clients? s Doug Jones timely submitted his 2017 tax return and elected married filing jointly status with his wife Darlene. Doug and Darlene did not request an extension. They owed and payed $124,000 for their 2017 tax year. In 2019, Doug amends his return and claims MFS status. By changing his filing status, Doug sought a refund for an overpayment. Is Doug allowed to change his filing status for the 2017 tax year and receive a tax refund with his amended return after the due date
