Tara is 26-year-old individual with an adjusted gross income of $37,000 in Year

Question

Tara is 26-year-old individual with an adjusted gross income of $37,000 in Year 1. Tara had the following unreimbursed medical and dental expenses in Year 1: Laser eye surgery $ 5,000 Doctor visits 350 Crutches 75 Over-the-counter medications 250 Allergy shots 600 Prescription medications 750 Dental services: Teeth cleanings 200 Cavity fillings 500 Teeth whitening 200 Total $ 7,925 What amount, if any, of Tara’s medical and dental expenses are deductible on Schedule A of Form 1040 for Year 1? A) $0 B) $3375 C) $4025 D) $7475

Explanation / Answer

Laser Eye Surgery $         5,000 Doctor visits $              350 Crutches $                75 Over-the-counter medications $              250 Allergy shots $             600 Prescription medications $             750 Teeth cleanings $             200 Cavity fillings $             500 Teeth whitening - Not deductible as medical expense from AGI $                  -   Total Deductible Medical Expenses $         7,725 Less: 10% AGI threshold (10% of $37,000) $         3,700 Medical and Dental expenses deductible as per Schedule A $          4,025 Option C is the correct answer.

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