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vandarughb5653
11.12.2019 •
Business
Fred and lucy are married, ages 33 and 32, and together have agi of $120,000 in 2019. they have four dependents and file a joint return. they pay $5,000 for a high deductible health insurance policy and contribute $2,600 to a qualified health savings account. during the year, they paid the following amounts for medical care: $9,200 in doctor and dentist bills and hospital expenses, and $3,000 for prescribed medicine and drugs. in october 2019, they received an insurance reimbursement of $4,400 for the hospitalization. they expect to receive an additional reimbursement of $1,000 in january 2020. determine the maximum itemized deduction allowable for medical expenses in 2019.
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Ответ:
$800
Explanation:
Fred and Lucy's itemized medical expenses are:
doctor and dentist bills + hospital expenses $9,200
minus reimbursements ($4,400)
unreimbursed expenses $4,800
Health insurance premiums $5,000
Prescribed medicines and drugs $3,000
Total medical expenses $12,800
minus 10% of AGI = 10% x $120,000 ($12,000)
Deductible medical expenses $800
Contribution to qualified Health Savings Accounts are deducted directly from the AGI, and should not be included as medical expenses.
Ответ: