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please give the answer of line 1 and line 2 and line 3 and 4 Problem 5-15 Medical Expenses (LO 5.6) In 2018, Margaret and
please give the answer of line 1 and line 2 and line 3 and 4
Problem 5-15 Medical Expenses (LO 5.6) In 2018, Margaret and John Murphy (age 66 and 68, respectively) are married taxpayers who file a joint tax return with AGI of $25,400. During the year they incurred the following expenses: $1,150 400 Medical insurance premiums Premiums on an insurance policy that pays $100 per day for each day Margaret is hospitalized Medical care lodging (two people, one night) Hospital bills 2,100 Doctor bills Dentist bills Prescription drugs and medicines Psychiatric care 350 In addition, they drove 83 miles for medical transportation, and their insurance company reimbursed them $900 for the above expenses. On the following segment of Schedule A of Form 1040, calculate the Murphy's medical expense deduction. If required, round any amount to the nearest dollar. Enter all amounts as positive numbers. Caution. Do not include expenses reimbursed or paid by others. 148 x Medical 1 Medical and dental expenses (see instructions) ......... and Dental 2 Enter amount from Form 1040, line 7..... Expenses 3 Multiply line 2 by 7.5% 0.075) ....... 4 Subtract line 3 from line 1. If line 3 is more than line 1, enter - - ....... Problem 5-15 Medical Expenses (LO 5.6) In 2018, Margaret and John Murphy (age 66 and 68, respectively) are married taxpayers who file a joint tax return with AGI of $25,400. During the year they incurred the following expenses: $1,150 400 Medical insurance premiums Premiums on an insurance policy that pays $100 per day for each day Margaret is hospitalized Medical care lodging (two people, one night) Hospital bills 2,100 Doctor bills Dentist bills Prescription drugs and medicines Psychiatric care 350 In addition, they drove 83 miles for medical transportation, and their insurance company reimbursed them $900 for the above expenses. On the following segment of Schedule A of Form 1040, calculate the Murphy's medical expense deduction. If required, round any amount to the nearest dollar. Enter all amounts as positive numbers. Caution. Do not include expenses reimbursed or paid by others. 148 x Medical 1 Medical and dental expenses (see instructions) ......... and Dental 2 Enter amount from Form 1040, line 7..... Expenses 3 Multiply line 2 by 7.5% 0.075) ....... 4 Subtract line 3 from line 1. If line 3 is more than line 1, enterStep by Step Solution
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