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SWFT Comprehensive Vol 2020

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 29P

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Question

You bought a house in 2004 for $150,000. Sadly, you suffered an injury. Your doctor prescribes water
aerobics as your therapy and prescribes building a pool. You spend $31,000 to build the pool. Because
you built the pool your house now appraises for $165,000. Assume all of your other injury related costs
were covered by your health insurance, which you pay $4,400 a year for. If your AGI is $200,000, what
is your allowable medical expense deduction?
○ $400
00
$20,400
$35,400
$0
$5,400

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