Question
Simpson, age 45, is a single individual who is employed full time by Duff Corporation. This year Simpson reports AGI of $50,000 and has incurred
Simpson, age 45, is a single individual who is employed full time by Duff Corporation. This year Simpson reports AGI of $50,000 and has incurred the following medical expenses:
| Dentist charges | $ 900 |
|---|---|
| Physician charges | 1,800 |
| Optical charges | 500 |
| Cost of eyeglasses | 300 |
| Hospital charges | 2,100 |
| Prescription drugs | 250 |
| Over-the-counter drugs | 450 |
| Medical insurance premiums (not through an exchange) | 775 |
a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
3rd edition
978-0132890540
