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Please help me out, Income tax is the subject. Thank you! Will give you a thumbs hp for your help! :) Ray and Zulal (employees
Please help me out, Income tax is the subject. Thank you! Will give you a thumbs hp for your help! :)
Ray and Zulal (employees at a store) are married, both under 65 , and have total AGI of $90,000 in 2022 . They have three dependents and file a joint return. Health insurance is not provided through their workplace. Ray and Zulal pay $20,000 for a high deductible health insurance policy and contribute $3,600 to a qualified Health Savings Account. During the year, they paid the following amounts for medical care: $10,000 for a hospital stay and $5,000 for prescribed medicine and drugs (the taxpayers used their HSA plan to pay for $3600 of these expenses and paid $11400 by personal check). In 2021, they received an insurance reimbursement of $4,500 for the hospitalization. Determine the maximum itemized deduction allowable for medical expenses in 2022 Step by Step Solution
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