Required information [The following information applies to the questions displayed below.] Simpson, age 45, is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $63,000 and has incurred the following medical expenses: Dentist charges Physician charges Optical charges Cost of eyeglasses Hospital charges Prescription drugs Over-the-counter drugs Medical insurance premiums (not through an exchange) $1,310 1,810 900 515 4,800 470 525 1,060 a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations. Note: for this question, use the 10% of AGI threshold for medical expenses. Make sure you are also familiar with the new % of AGI threshold implemented as part of the Dec. 2019 tax law changes. Medical expenses Required information [The following information applies to the questions displayed below.) Stephanie is 12 years old and often assists neighbors on weekends by babysitting their children. Calculate the 2019 standard deduction Stephanie will claim under the following independent circumstances (assume that Stephanie's parents will claim her as a dependent). c. Stephanie reported $18,955 of earnings from her babysitting. Standard deduction Campbell, a single taxpayer, has $95,000 of net profits from her general store, which she operates as a sole proprietorship. She has taxable income before the deduction for qualified business income modified taxable income) of $50,000, and the deductible portion of her self-employment taxes is $6,712. How much is Campbell's deduction for qualified business income? Multiple Choice $95,000 $19.000. O o $10,000. $8,000. O O O $0