Problem 5-40 (Algorithmic) (LO. 2)

Betsy spent the last 75 days of 2019 in a nursing home. The cost of the services provided to her was $22,500 ($300 per day). Medicare paid $7,600 toward the cost of her stay. Betsy also received $14,720 of benefits under a long-term care insurance policy she purchased. Assume that the Federal daily excludible amount is $370.

If the amount is zero, enter 0.

What is the effect on Betsys gross income?