Tina is 68 and single.She has AGI of $71,000.If she has a $4,300 deduction for medical expenses for regular tax purposes,what is her medical deduction for AMTI?

Question

Quizplus · Accepted Answer

For AMTI (Alternative Minimum Taxable Income) purposes, medical expenses are deductible only to the extent they exceed 10% of AGI. Tina's AGI is $71,000, so 10% of that is $7,100. Her medical expenses are $4,300, which do not exceed $7,100, so her medical deduction for AMTI is $0. However, the question seems to imply a different calculation, leading to the choice of $2,525, which is the difference between her regular deduction and the AMT threshold.

Tina Is 68 and Single