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In: Accounting

Simpson, age 45, is a single individual who is employed full-time by Duff Corporation. This year...

Simpson, age 45, is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $69,200 and has incurred the following medical expenses:

Dentist charges $ 1,600
Physician charges 2,450
Optical charges 875
Cost of eyeglasses 715
Hospital charges 4,350
Prescription drugs 575
Over-the-counter drugs 820
Medical insurance premiums (not through an exchange) 1,200

a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.

b. Suppose that Simpson was reimbursed for $250 of the physician's charges and $1,200 for the hospital costs. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.

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ekkarill92 answered 1 year ago
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