and Lucy are married, ages 33 and 32, and together have AGI of $120,000 in 2021. They have four dependents and file a joint return. They pay $5,000 high deductible health insurance policy and contribute $2,600 to a qualified Health Savings Account. During the year, they paid the following amounts for Cal care: $9,200 in doctor and dentist bills and hospital expenses, and $3,000 for prescribed medicine and drugs. In October 2021, they received an ance reimbursement of $4,400 for the hospitalization. They expect to receive an additional reimbursement of $1,000 in January 2022. Determine the mum itemized deduction allowable for medical expenses in 2021. $9,200 $3,800 $800 $12,800 W
and Lucy are married, ages 33 and 32, and together have AGI of $120,000 in 2021. They have four dependents and file a joint return. They pay $5,000 high deductible health insurance policy and contribute $2,600 to a qualified Health Savings Account. During the year, they paid the following amounts for Cal care: $9,200 in doctor and dentist bills and hospital expenses, and $3,000 for prescribed medicine and drugs. In October 2021, they received an ance reimbursement of $4,400 for the hospitalization. They expect to receive an additional reimbursement of $1,000 in January 2022. Determine the mum itemized deduction allowable for medical expenses in 2021. $9,200 $3,800 $800 $12,800 W
Chapter13: Tax Credits And Payment Procedures
Section: Chapter Questions
Problem 20CE
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Transcribed Image Text:and Lucy are married, ages 33 and 32, and together have AGI of $120,000 in 2021. They have four dependents and file a joint return. They pay $5,000
high deductible health insurance policy and contribute $2,600 to a qualified Health Savings Account. During the year, they paid the following amounts for
Cal care: $9,200 in doctor and dentist bills and hospital expenses, and $3,000 for prescribed medicine and drugs. In October 2021, they received an
ance reimbursement of $4,400 for the hospitalization. They expect to receive an additional reimbursement of $1,000 in January 2022. Determine the
mum itemized deduction allowable for medical expenses in 2021.
$9,200
$3,800
$800
$12,800
W
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