Mitzi's medical expenses include the following: Mitzi's AGI for the year is $33,000.She is single and age 49.None of the medical costs are reimbursed by insurance.After considering the AGI floor,Mitzi's medical expense deduction is

Question

Mitzi's medical expenses include the following:  Mitzi's AGI for the year is $33,000.She is single and age 49.None of the medical costs are reimbursed by insurance.After considering the AGI floor,Mitzi's medical expense deduction is

Quizplus · Accepted Answer

To calculate Mitzi's medical expenses deduction, we must first determine the AGI floor. For taxpayers under the age of 65, the AGI floor is 7.5%. Therefore, Mitzi's AGI floor would be $2,475 (7.5% of $33,000). Next, we add up all of Mitzi's medical expenses, which equal $16,325. Lastly, we subtract Mitzi's AGI floor of $2,475 from her total medical expenses of $16,325, which equals $13,850. Therefore, Mitzi's medical expense deduction would be $13,850.

Mitzi's Medical Expenses Include the Following: Mitzi's AGI for the Year