Itemized Deduction. Aine’s adjusted gross income is $75,000. She has $12,200 in unreimbursed medical expenses. How much in medical expenses can she claim as an itemized deduction?
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Itemized Deduction. Aine’s adjusted gross income is $75,000. She has $12,200 in
unreimbursed medical expenses. How much in medical expenses can she claim as an
itemized deduction?
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- For purposes of the Child and Dependent Care Credit, all the following are qualified expenses except for which one? a. نن فم b. d. A $700 adult day care expense for a disabled spouse while the taxpayer workers. A $450 childcare expense while the taxpayer obtains emergency medical care. A $500 payment to a grandparent for childcare while the taxpayer is employed. A $350 payment to a day care center while the taxpayer is looking for employment.Tim and Martha paid $19,600 in qualified employment-related expenses for their three young children who live with them in their household. Martha received $1,400 of dependent care assistance from her employer, which was properly excluded from gross income. The couple had $156,850 of AGI earned equally. Use Child and Dependent Care Credit AGI schedule. Required: What amount of child and dependent care credit can they claim on their Form 1040? How would your answer differ (if at all) if the couple had AGI of $139,900 that was earned entirely by Martha?Edna spent the last 80 days of 2021 in a nursing home. The cost of the services provided to her was $24,000 ($300 per day). Medicare paid $14,000 toward the cost of her stay. Edna also received $14,000 of benefits under a long-term care insurance policy she purchased. Assume that the Federal daily excludible amount is $400. If the amount is zero, enter 0. What is the effect on Edna's gross income? The amount of her exclusion is $ and the amount included in her gross income is $
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- DengarBelow is your client’s actual list of her family’s unreimbursed medical ex-penses for the year. Of course she wants to deduct everything, so it’s up to you to tell her which items really are deductible as medical expenses. (Ignore the % of AGI floor.) My Family’s Medical Expenses: (A) Aspirin (B) Contact lenses (C) Medical marijuana (bought in Oklahoma – it’s legal!) (D) Veterinary bills (for “Whiskers” the cat, but she’s family, too!) (E) Acupuncture (it worked!) (F) Sunscreen (preventing skin cancer!) (G) Botox injections (Wonderful for my mental health – I look 10 years younger!) (H) Running shoes (heart health!) (I) Viagra (brought home from Mexico, much cheaper!) (J) Mileage for driving to/from doctors’ offices (K) Birth control pills (L) Parking at the hospital (visiting Aunt Mary) (M) Massage therapy (at the Elizabeth Arden “Red Door” Salon, wonderful!) (N) A book on meditation and self-hypnosis (I now feel so calm and serene!).…Please do not give solution in image format ?
- Itemized Deduction. Emma's adjusted gross income is $20,200. She has $1,344 in unreimbursed medical expenses. How much in medical expenses can Emma claim as an itemized deduction? The amount Emma can claim as an itemized deduction for medical expenses is $ (Round to the nearest cent.)Marry is single. She has modified AGI of $20,000 and social security benifits of $2,000. The social security benifits Mary must include in gross income is?Directions Choose the letter of the best answer. Write the letter for the answer on a separate piece of paper. 1. A person's "safe debt load" is often defined as of a person's after-tax income less expenses. If Devon's after-tax income is $23,930, and his expenses are $4,800 for housing, $4,900 for food, $1,280 for transportation, and $950 for clothes, what is Devon's safe debt load? $3,000 $4,000 $6,000 $12,000 А В TEST-TAKING TIP If you do not know the answer to a question, make a note and move to the next question. Come back to it later, after you have answered the rest of the questions. C D
