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Valentino is a patient in a nursing home for 63 days of 2019. While in the nursing home, he incurs total costs of $27,972. Medicare
Valentino is a patient in a nursing home for 63 days of 2019. While in the nursing home, he incurs total costs of $27,972. Medicare pays $16,783 of the costs. Valentino receives $30,769 from his long-term care insurance policy, which pays while he is in the facility. Assume that the Federal daily excludible amount for Valentino is $370.
Of the $15,000, what amount may Valentino exclude from his gross income?
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