Question

Jon, age 45, had adjusted gross income of $26000 in 2017.During the year ,he incurred and...

Jon, age 45, had adjusted gross income of $26000 in 2017.During the year ,he incurred and paid the following medical expenses.
Grab and medicines premium $300
Health insurance premiums $750
Doctors' fees 2250
eyeglasses 75.

job received $900 in 2017 as a reimbursement for a portion of the doctors' fees.if Jon were to itemize his deductions, what would be his allowable medical deduction after the adjusted gross income limitation is taken into account ?
1. $ 0
2. $425
3.$600
4. $1000
5 . none of the above.

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Answer #1

Solution :- 1. $0

Calculation of allowable medical deduction after the adjusted gross income is as follows:-

PARTICULARS Amount ($)
Drugs and Medicines prescribed by doctors $300
Add:- Health insurance premium $750
Add:- Doctors Fees $2250
Add:- Eyeglasses $75
Less:- Reimbursement of doctors fees received ($900)
$2475

Less :- 10% of Adjusted Gross Total Income of $26000 ($26000 × 10%)

Allowable medical deduction after Adjusting Total Income

Therefore, as the resultant amount is negative. The allowable medical deduction after Adjusting Total Income is $0

($2600)

($125)
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