A person has $5,000 in medical expenses and an adjusted gross income of $33,000.If taxpayers are allowed to deduct the amount of medical expenses that exceed 7.5 percent of adjusted gross income,what would be the amount of the deduction in this situation?

Question

Quizplus · Accepted Answer

The deduction is calculated as total medical expenses minus 7.5% of the adjusted gross income. 7.5% of $33,000 is $2,475. Therefore, the deduction is $5,000 - $2,475 = $2,525.

A Person Has $5,000 in Medical Expenses and an Adjusted