Roland had S10,500 in medical expenses last year and has no medical insurance. The IRS allows medical expense deductions for the amount that exceeds 75% of a taxpayer's adjusted gross income. If Roland's adjusted gross income is $31,000, how much can he claim as a medical deduction? a. $10,500 b. $8,175 16. c. $7,500 d. $750

Question

Brutus

Mathematics

17 September, 13:14

Roland had S10,500 in medical expenses last year and has no medical insurance. The IRS allows medical expense deductions for the amount that exceeds 75% of a taxpayer's adjusted gross income. If Roland's adjusted gross income is $31,000, how much can he claim as a medical deduction? a. $10,500 b. $8,175 16. c. $7,500 d. $750

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Emilie Bass · Answer 1

Answer: According the problem that you gave, Roland would not be able to claim anything as a medical deduction.

In the problem, he is allowed to claim any amount that exceeds 75% of his AGI.

75% of his AGI would be $23,250. (0.75 x 31000 = 23,250)

His expenses of $10,500 do not exceed the amount needed.