Question

In: Accounting

Hilda is single, 66 years old, and has an AGI of $89,654. She has the following...

Hilda is single, 66 years old, and has an AGI of $89,654. She has the following medical expenses:

Eyeglasses and exam                                                  $579
Eye surgery to correct her nearsightedness                  $4,250
Prescriptions                                                              $2,741
Health insurance premiums (after-tax)                         $3,610
Tummy tuck surgery                                                   $8100

Calculate the allowable medical and dental expenses Hilda can report on Schedule A, line 4.

a) $19,280
b) $12,556
c) $11,180
d) $4456

(Based on 2018 tax year. Please explain how you arrived at your answer.)

Solutions

Expert Solution

Expenses which are qualified for medical deduction are:

Eyeglasses and exam                                                  $579
Eye surgery to correct her nearsightedness                  $4,250
Prescriptions                                                              $2,741
Health insurance premiums (after-tax)                         $3,610

However, tummy tuck surgery which is a cosmetic procedure will not qualify for deduction. Thus, the correct answer is $11,180(c).

ekkarill92 answered 2 years ago
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