Mandy is itemizing deductions on her federal income tax return and had $6200 in medical expenses last year. If her AGI was $66,0

Question

4 years ago

7

Mandy is itemizing deductions on her federal income tax return and had $6200 in medical expenses last year. If her AGI was $66,0

00, and if medical expenses are deductible to the extent that they exceed 7.5% of a taxpayer's AGI, how much can Mandy deduct for medical expenses?
A. $4950
B. $465
C. $4485
D. $1250

Mathematics

2 answers:

alisha [4.7K] · Answer 1 · 2022-01-28T23:14:45+03:00

Multiply your total income by .075. Compare this number with the estimated total of your medical expenses. If you believe your total expenses were over 7.5% of your income, you qualify for the deduction.

.075*66,000= $4950

Subtract this number from the total of your payments calculated above. ($6200)

$6200-$4950= $1250

This is the amount you can deduct from your taxes.

($1250 is the answer)

melamori03 [73] · Answer 2 · 2022-01-29T00:18:36+03:00

melamori03 [73]4 years ago

4 0

Answer: is D: 1250

Step-by-step explanation: