Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Year 1, John incurred $2,000 of medical expenses but was only able to deduct $500 of them because of the medical deduction floor. In year
Year 1, John incurred $2,000 of medical expenses but was only able to deduct $500 of them because of the medical deduction floor. In year 2, John received a reimbursement from his insurance company (he pays his own premiums) of $1,600 of his Year 1 medical expenses. How much of the insurance reimbursement can John exclude?
a. $0
b. $1,100
C. $1,500
d.) $1,600
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started