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Valentino is a patient in a nursing home for 64 days of 2023. While in the nursing home, he incurs total costs of $32,256. Medicare
Valentino is a patient in a nursing home for 64 days of 2023. While in the nursing home, he incurs total costs of $32,256. Medicare pays $19,354 of the costs. Valentino receives $35,482 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 $420. Of the $35,482, what amount may Valentino exclude from his gross income
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