For 2017, Betsy and Bob, ages 62 and 68, respectively, are married taxpayers who file a joint tax return with AGI of $48,000. During the year they incurred the following expenses:
Medical insurance premiums $3,000
Hospital bills (knee replacement for Bob) $2,300
Hospital bills (face lift for Betsy) $2,600
Doctor bills $ 750
Dentist bills $ 125
Eyeglasses $ 340
Acupuncture treatments (for Bob's knee pain prior to his operation) $ 300
In addition, their insurance company reimbursed them $3,000 for the above expenses.
Calculate Betsy and Bob's deduction for medical and dental expenses for 2017.
Betsy and Bob's deduction for... View the full answer