Mathematics: Benton is itemizing deductions on his federal income tax return and had $5600 in medical expenses last year. if his agi was $55000 and if medical expenses are deductible to the extent that they exceed 7.5% of a taxpayer’s agi, how much can benton deduct for medical expenses?

Benton is itemizing deductions on his federal income

BreBreDoeCCx

10.07.2020

$1475 apex answer

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NateTheBeast12

14.03.2022

The answer is $1475.

Explanation:

The AGI is = $55,000

Medical expenses amount = $5600

If medical expenses are deductible to the extent that they exceed 7.5% or 0.075 of a taxpayer’s AGI, means $55000\times0.075=4125$

Now the deductible amount is 5600-4125=1475

Hence, Benton can deduct $1475 for medical expenses.

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blackopsty23

19.08.2021

If you are wondering what x is, it’s 4
So x=4

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