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Valentino is a patient in a nursing home for 47 days of 2021. While in the nursing home, he incurs total costs of $22,560. Medicare
Valentino is a patient in a nursing home for 47 days of 2021. While in the nursing home, he incurs total costs of $22,560. Medicare pays $13,536 of the costs. Valentino receives $24,816 for his long-term care insurance policy, which pays while he is in the facility. Assume that the federal daily excludible amount for Valentino is $400.
Of the $24,816, what amount may Valentino exclude from his gross income?________
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