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Please answer the following questions the the succeeding year Spouse wall but fortunately they medical insurance and additionally Spouse had e benefits under a poliey

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Please answer the following questions

the the succeeding year Spouse wall but fortunately they medical insurance and additionally Spouse had e benefits under a poliey provided by Employer medical expenses totalled $4.000 and they received of benefits under their policy and $2,000 of benefits Employer's policy. To what extent are the benefits Sed in their gross income? (See footnote 29 on page 196, In the carried med insurance ben Spouse's medie $3,000 of bi under Employ included in the supra.) Under the facts the medical expe Injured, who h sonal injury suit aris (a) What are are the facts of (b), above, may Injured and Spouse deduct medical expenses? (See $ 213(a).) who has a 20-year life expectancy, recovers $1 million in a suit arising out of a boating accident. at are the tax consequences to Injured if the $1 million is sited in a money market account paying 5% interest? Home 200 IDENTIFICATION OF INCOME SUBJECT TO TAXATION PART 2 CHAF (b) What are the tax consequences to Injured if the $1 million used by Injured to purchase an annuity to pay Injured $100,000 a year for Injured's life? (c) What are the tax consequences to Injured if the case was settled, and in the settlement, Injured received payments from Defendant of $100,000 a year for life? (d) What are the tax consequences to Injured if the case was settled, and in the settlement, Defendant purchased an annuity with the payments paid directly to Injured who had rights to the payments but no other rights in the annuity including no right to receive the fund paying the annuity? SEI A. AI Intern inclus to the paymayments paid directendant purch paym payo. alim gross prop requ for pay pay

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