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In 2019, Maria who is 66, had adjusted gross income of $27,000, paid the following medical expenses: Prescription medicines$875 Dentist and doctor expenses 1,350 Health insurance premiums 700 Two pair of eyeglasses185 What amount can Maria deduct as medical expenses (after the adjusted gross income limitation) in calculating her itemized deductions for 2019? $1,085
In 2019, Maria who is 66, had adjusted gross income of $27,000, paid the following medical expenses:
Prescription medicines$875
Dentist and doctor expenses 1,350
Health insurance premiums 700
Two pair of eyeglasses185
What amount can Maria deduct as medical expenses (after the adjusted gross income limitation) in calculating her itemized deductions for 2019?
$1,085.
$3,110.
$0.
$2,700.
Expert Solution
Medical dues limit is 7.5% of Adjusted Gross Income (AGI).
So,
Medical dues limit = $27,000*7.5% = $2,025
Medical Expenses = $875+$1,350+$700+$185 = $3,110
Hence,
Maria deduct as medical expenses (after the adjusted gross income limitation) in calculating her itemized deductions for 2019 = $3,110-$2,025 = $1,085
So, the correct option is 1st "$1,085".
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