Reggie, who is 55, had AGI of $36,000 in 2019. During the year, he paid the...

Reggie, who is 55, had AGI of $36,000 in 2019. During the year, he paid the following medical expenses:


Drugs (prescribed by physicians)	$	580
Marijuana (prescribed by physicians)		1,480
Health insurance premiums–after taxes		1,250
Doctors’ fees		1,330
Eyeglasses		455
Over-the-counter drugs		280

Required:

Reggie received $580 in 2019 for a portion of the doctors’ fees from his insurance. What is Reggie’s medical expense deduction?

Expert Solution

Particulars	Amount in $
Drugs (prescribed by Physicians )	580
Marijuanan (prescribed by Physicians )	1,480
Health insurance premium after taxes	1,250
Doctor Fees	1,330
Eyeglasses	455
Less: Portion of doctor fee received from insurance	-580
Total	4,515

The Threshold limit	10% of AGI

Reggie's Medical Expenses deduction	$ 915	(4,515 - (36,000 x 10%) )

Note:
All expenses are qualified medical expenses except for the over-the-counter drugs.

ekkarill92 answered 2 years ago

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