For 2020, Erika and Matthew, ages 62 and 68, respectively, are married taxpayers who file a joint tax return with AGI of $60,000. During the year they incurred the following expenses: Medical insurance premiums $4,100 Hospital bills (knee replacement for Matthew) $5,300 Hospital bills (face lift for Erika) $6,500 Doctor bills $900 Dentist bills $100 Prescription eyeglasses $260 Acupuncture treatments (for Matthew's knee pain prior to his operation) $350 In addition, their insurance company reimbursed them $2,800 for the above expenses. Please calculate Erika and Matthew’s deduction for medical and dental expenses for 2020. Please keep in mind that you are solving for the final number to appear on their Schedule A. Please show all work.
For 2020, Erika and Matthew, ages 62 and 68, respectively, are married taxpayers who file a joint tax return with AGI of $60,000. During the year they incurred the following expenses:
|
Medical insurance premiums |
$4,100 |
|
Hospital bills (knee replacement for Matthew) |
$5,300 |
|
Hospital bills (face lift for Erika) |
$6,500 |
|
Doctor bills |
$900 |
|
Dentist bills |
$100 |
|
Prescription eyeglasses |
$260 |
|
Acupuncture treatments (for Matthew's knee pain prior to his operation) |
$350 |
In addition, their insurance company reimbursed them $2,800 for the above expenses. Please calculate Erika and Matthew’s deduction for medical and dental expenses for 2020. Please keep in mind that you are solving for the final number to appear on their Schedule A. Please show all work.
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