LO.2 Emma Doyle is employed as a corporate attorney. For calendar year 2020, she had AGI of $75,000 and paid the following medical expenses: Medical insurance premiums $3,700 Doctor and dentist bills for Bob and April (Emma’s parents) 6,800 Doctor and dentist bills for Emma 5,200 Prescription medicines for Emma 400 Nonprescription insulin for Emma 350 Bob and April would qualify as Emma’s dependents except that they file a joint return. Emma’s medical insurance policy does not cover them. Emma filed a claim for reimbursement of $2,800 of her own expenses with her insurance company in December 2020 and received the reimbursement in January 2021. What is Emma’s maximum allowable medical expense deduction for 2020? Prepare a memo for your firm’s tax files in which you document your conclusions.
LO.2 Emma Doyle is employed as a corporate attorney. For calendar year 2020, she had AGI of $75,000 and paid the following medical expenses:
|
Medical insurance premiums |
$3,700 |
|
Doctor and dentist bills for Bob and April (Emma’s parents) |
6,800 |
|
Doctor and dentist bills for Emma |
5,200 |
|
Prescription medicines for Emma |
400 |
|
Nonprescription insulin for Emma |
350 |
Bob and April would qualify as Emma’s dependents except that they file a joint return. Emma’s medical insurance policy does not cover them. Emma filed a claim for reimbursement of $2,800 of her own expenses with her insurance company in December 2020 and received the reimbursement in January 2021. What is Emma’s maximum allowable medical expense deduction for 2020? Prepare a memo for your firm’s tax files in which you document your conclusions.
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