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Maria and Don had $20,800 in medical expenses. Their family medical insurance covered 60% of these expenses. The IRS allows medical and dental expense deductions for the amount that exceeds 10% of a taxpayer's adjusted gross income. If their adjusted gross income is $101,598, how much can they claim as a medical deduction? Fill in the blank 1 Next

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abiolataiwo2015

Answer:

$1,839.8

Step-by-step explanation:

Calculation for how much can they claim as a medical deduction

First step is to calculate medical insurance

Medical insurance=10%*$101,598

Medical insurance=$10,159.8

Now let calculate how much can they claim as a medical deduction

Medical deduction claim=[$10,159.8-(100%-60%*$20,800)]

Medical deduction claim=[$10,159.8-(40%*$20,800)]

Medical deduction claim=$10,159.8-$8,320

Medical deduction claim=$1,839.8

Therefore how much can they can claim as a medical deduction is $1,839.8

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