In addition in the current year Scott paid a physician 2800 for the medical

In addition in the current year scott paid a

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return in the following year. In addition, in the current year, Scott paid a physician $2,800 for the medical expenses of his wife, who died in the prior year. Disregarding the adjusted gross income percentage threshold, what amount could Scott claim in his current year income tax return for medical expenses? a. $2,800 b. $4,000 c. $6,800 d. $0 Explanation Choice "c" is correct. $6,800. Scott could claim $6,800 on his current year tax return for medical expenses. Rules: 1. Medical expenses charged to a credit card is expensed in the year the charge is made. It does not matter when the amount charged is actually paid. 2. Expenses paid for the medical care of a decedent by the decedent's spouse are included as medical expenses in the year paid, whether they are paid before or after the decedent's death. Choices "d", "a", and "b" are incorrect, per the above rules.
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Page 1 of 2 Becker Professional Education Registered to: Dominique DAntonio Question CPA-02121 Alex and Myra Burg, married and filing joint income tax returns, derive their entire income from the operation of their retail candy shop. Their adjusted gross income was $50,000. The Burgs itemized their deductions on Schedule A. The following unreimbursed cash expenditures were among those made by the Burgs during the year: Repair and maintenance of motorized wheelchair for physically handicapped dependent child $ 300 Tuition, meals, and lodging at special school for physically handicapped dependent child in the institution primarily for the availability of medical care, with meals and lodging furnished as necessary incidents to that care 4,000 State income tax 1,200 Self-employment tax 7,650 Four tickets to a theatre party sponsored by a qualified charitable organization; not considered a business expense; similar tickets would cost $25 each at the box office 160 Repair of glass vase accidentally broken in home by dog; vase cost $500 5 years ago; fair value $600 before accident and $200 after accident 90 Fee for breaking lease on prior apartment residence located 20 miles from new residence 500 Security deposit placed on apartment at new location 900 Without regard to the adjusted gross income percentage threshold, what amount may the Burgs claim in their current year return as qualifying medical expenses? a. $4,000 b. $300
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Page 2 of 2 Becker Professional Education Registered to: Dominique DAntonio $ $ c. $0 d. $4,300 Explanation Choice "d" is correct. $4,300 medical expenses. Wheelchair repair 300 School for handicapped 4,000 Total 4,300
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Page 1 of 2 Becker Professional Education Registered to: Dominique DAntonio $ Question CPA-02125 Alex and Myra Burg, married and filing joint income tax returns, derive their entire income from the operation of their retail candy shop. Their adjusted gross income was $50,000. The Burgs itemized their deductions on Schedule A. The following unreimbursed cash expenditures were among those made by the Burgs during the year: Repair and maintenance of motorized wheelchair for physically handicapped dependent child 300 Tuition, meals, and lodging at special school for physically handicapped dependent child in the institution primarily for
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  • Winter '14
  • The Land, Taxation in the United States, Becker Professional Education, Professional Education, Dominique DAntonio

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