taxch10 - BA453...

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BA 453 Ch 10 # 2,8,13,18,21,25,26,27,30,32,33,35,38,39 and 44 2. The following expenses are includable as medical expenses: the $500 cost of a smoking cessation  program and $600 for insulin. The rest are not deductible medical expenses. 8. Arturo can include all of the medical expenses as deductions in the current year even if he expects  them to be reimbursed the following year. Any reimbursements the following year will have to be  included in gross income under the tax benefit rule. For the casualty losses he must reduce the  deduction by the amount of the expected reimbursement, $500, and the 10% of AGI floor. 13. Julia can deduct the mortgage interest on her primary residence and one of the two other  residences. To maximize her deduction she should choose the residence with the highest interest  deduction. She should consolidate her mortgages into two of possible.
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This note was uploaded on 04/20/2010 for the course BA 453 taught by Professor Guild during the Fall '09 term at Humboldt State University.

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taxch10 - BA453...

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