Question

1. Jose, who is 35, paid $1,600 of medical expenses during 2019, $1,100 of which were reimbursed by his insurance company. Jose's AGI for 2019 is $36,000. What is Jose’s medical expense deduction?

2.

Timothy paid $275 to the State DMV for the following with respect to his pickup truck:

1. a registration fee of $50 per vehicle; and

2. a personal property tax of $225 based on the value of the truck.

How much of the DMW fee is tax-deductible?

3.Sheniqua's monthly mortgage payment for her principal residence is $1,000, of which $900 is mortgage principal and $100 is interest. How much of Sheniqua’s monthly mortgage payment is tax-deductible?

Answer 1

1) Actual Medical expenses:

Medical expenses $1600

(-) Reimbursement   $1100

Total​ $500

Jose's age is under 65 that means we have to calculate AGI ×7.5% to see the actual amount = $36000× 7.5% = $2700

So, Jose's medical expense deduction amount = $2700-$500 = $2200

2) DMW fee tax deductable amount is $50 the portion of fee on the based of the value of truck.

3) Sheniqua's monthly mortgage payment

=$900-$100= $800

Therefore, Sheniqua’s monthly mortgage payment tax-deductible is $800 × 24% =$192