Sammy and Monica, both age 67, incur and pay medical expenses in excess of insurance reimbursements during the year as follows:

For Sammy $16,000

For Monica (spouse) 4,000

For Chuck (son) 2,500

For Carter (Monica's father) 5,000

Sammy and Monica's 2019 AGI is $130,000. They file a joint return. Chuck and Carter are Sammy and Monica's dependents.

What is Sammy and Monica's medical expense deduction for regular income tax purposes?

The Sammy and Monica's medical expense deduction for regular income tax purposes is $17,750.

Explanation:

For the purpose of regular income tax, the deduction pertaining to medical expenses are available up to the extent it exceeds 10% of AGI.

Deduction available = excess expenses incurred - 7.5% of AGI

= ($16,000 + 4,000 + 2,500 + 5,000) - 7.5%*130000

= 27500 - 9.750

= $17,750

Therefore, The Sammy and Monica's medical expense deduction for regular income tax purposes is $17,750.