Login-Rose State Coll Onli ACCT 2403 #7958-AO . CengageNow2] | A https://v2.ceng

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Login-Rose State Coll Onli ACCT 2403 #7958-AO . CengageNow2] | A https://v2.cengagenow. Mandoinvoker Problem 5-2 Medical Expenses (LO 5.1) In 2017, Margaret and John Murphy ( 6 and 68 respectively are married taxpayers who file a jint tax return th AGl of S25,40. During the rear they i cu ed the f lowing expenses Medical insurance premiums $1,150 Premiums on an insurance policy that pays $100 per day for each day Margaret is hospitalized Medical care lodging (two people, one night) Hospital bills Doctor bils Dentist bills Prescription drugs and medicines Psychiatric care In addition, they drove 88 miles for medical transportation. calculate the Murphy's medical expense deduction. If required, round any amount to the nearest dollar. Enter all amounts as postive nombers. 65 2,100 850 175 340 350 insurance company reimbursed them s900 for the above expenses. On the following segment of Schedule A of Form 1040, r drove 88 miles for medical transportation, and their Caution. Do not include expenses reimbursed or pald by others 1 Medical and dental expenses (see instructions) 2 Enter amount from Fors 1040, Ine 38 5.430 | x Medical 2 25,400 Dental seignment Score: 90

Explanation / Answer

Medical & Dentist Expenses Medical Insurance Premium $    1,150.00 Medical care lodging $          65.00 Hospital Bills $    2,100.00 Doctor Bills $       850.00 Dentist Bills $       175.00 Prescription drugs & medicine $       340.00 Psychiatric care $       350.00 Medical transportation=(88 miles*.18) $          16.00 Total Expense $    5,046.00 Less: Reimbursement $      -900.00 Medical & Dentist Expenses $    4,146.00 Rates in cents per mile Period Medical & Moving 2018 18 2017 17 IR-2016-169 2016 19 IR-2015-137 2015 23

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