Richard, age 50, is employed as an actuary. For calendar year 2017, he had AGI of $130,000 and paid the following medical expenses: Derrick and Jane would qualify as Richard's dependents except that they file a joint return. Richard's medical insurance policy does not cover them. Richard filed a claim for $4,800 of his own expenses with his insurance company in November 2017 and received the reimbursement in January 2018. What is Richard's maximum allowable medical expense deduction for 2017?

A)$0
B)$7,090
C)$13,000
D)$20,090
E)None of the above

Question

Richard, age 50, is employed as an actuary. For calendar year 2017, he had AGI of $130,000 and paid the following medical expenses: Derrick and Jane would qualify as Richard's dependents except that they file a joint return. Richard's medical insurance policy does not cover them. Richard filed a claim for $4,800 of his own expenses with his insurance company in November 2017 and received the reimbursement in January 2018. What is Richard's maximum allowable medical expense deduction for 2017?

A)$0 
B)$7,090 
C)$13,000 
D)$20,090 
E)None of the above

Quizplus · Accepted Answer

The Answer of Richard, age 50, is employed as an actuary. For calendar year 2017, he had AGI of $130,000 and paid the following medical expenses: Derrick and Jane would qualify as Richard's dependents except that they file a joint return. Richard's medical insurance policy does not cover them. Richard filed a claim for $4,800 of his own expenses with his insurance company in November 2017 and received the reimbursement in January 2018. What is Richard's maximum allowable medical expense deduction for 2017?

A)$0 
B)$7,090 
C)$13,000 
D)$20,090 
E)None of the above

Richard, Age 50, Is Employed as an Actuary