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.
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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