For 2017, Besty and Bob are married taxpayers who file a joint tax return with A

Question

For 2017, Besty and Bob are married taxpayers who file a joint tax return with AGI of $50,000. Both are under 30 years old. During the year they incurred the following expense:

Medical insurance premiums $3,000

Hospital bills ( knee replacement for Bob ) 2,200

Hopsital bills ( face lift for Betsy ) 2,500

Doctor bills 850

Dentist bills 150

Eyeglasses 450

Acupuncture treatments ( for Bob's knee pain prior to his operation ) 300

In addition, thier insurance company reimbursed them $3,000 for the above expenses.

Using the format below, calcutae Betsy and Bob's deduction for medical and dental expenses for 2017.

$________

$_________

Total_______l

Less 10% of adjusted gross income

_________________

Medical deduction

________________

Explanation / Answer

Adjusted gross total income - 50000

Less- 10% deduction of AGI- 5000

Less- Medical Deduction   

Medical ins prem - 3000

Hospital bill- 2200

Doctor bill 1000

(850+150)

Eye glasses 450

Acupuncture 300

Less - reimbursement 3000

-------

3950

LESS- 7.5% OF AGI 3750

-------

200 200

Net taxable income 44800

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