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AnnyKZ [126]
3 years ago
15

Nathan is itemizing deductions on his federal income tax return and had $5800 in his medical expenses last year. If his AGI was

$46,000, and if medical expenses are deductible to the extent that they exceed 7.5% of a taxpayer’s AGI, how much can Nathan deduct for medical expenses?
Mathematics
2 answers:
victus00 [196]3 years ago
6 0

Multiply his AGI by 7.5% to find the amount medical needs to meet before deducting:


46,000 x 0.075 = $3,450


He can deduct any amount over $3450.

Subtract that from his medical total to find the amount he can deduct:


5800 - 3450 = 2350


He can deduct $2,350.


artcher [175]3 years ago
4 0

Answer:

2350

Step-by-step explanation:

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