Primeira página
/
Negócios
/
Adjusted gross income of spouse 1: 71,000 Adjusted gross income of spouse 2: 67,000 Combined deductions without medical expenses: 33,000 Medical expenses for spouse 1: 10,000 Medical expenses for spouse 2: none individual adjusted gross incomes, total Suppose a married couple have the following combined deductions, and medica expenses. Answer parts (a)-(f) Click the icon to view the 2021 marginal tax rates and standard deductions. Medical expenses in excess of 7.5% of adjusted gross income can be claimed as a deduction. income. Therefore, the couple cannot claim a deduction for medical expenses. b. Calculate the income tax owed by the couple if they file jointly. The income tax owed by the couple if they file jointly is 14597 (Simplify your answer.) C. Calculate 7.5% of the adjusted gross income for spouse 1. Do the medical expenses for spouse 1 exceed this amount? If so by how much? If the couple file separately can spouse 1 claim a deduction for medical expenses? Select the correct choice below and fill in the answer box(es) within your choice. A. 7.5% of the adjusted gross income for spouse 1 is square The medical expenses for spouse 1 exceed 7.5% of the adjusted gross income by ssquare Therefore, spouse 1 can claim a deduction for medical expenses. B. 7.5% of the adjusted gross income for spouse 1 is ssquare The medical expenses for spouse 1 do not exceed 7.5% of the adjusted gross income Therefore, spouse 1 cannot claim a deduction for medical expenses.

Pergunta

Adjusted gross income of spouse 1: 71,000
Adjusted gross income of spouse 2: 67,000
Combined deductions without medical expenses: 33,000
Medical expenses for spouse 1: 10,000
Medical expenses for spouse 2: none
individual adjusted gross incomes, total
Suppose a married couple have the following
combined deductions, and medica expenses.
Answer parts (a)-(f)
Click the icon to view the 2021 marginal
tax rates and standard deductions.
Medical expenses in excess of 7.5%  of adjusted gross income can be
claimed as a deduction.
income. Therefore, the couple cannot claim a deduction for medical expenses.
b. Calculate the income tax owed by the couple if they file jointly.
The income tax owed by the couple if they file jointly is 14597
(Simplify your answer.)
C. Calculate 7.5%  of the adjusted gross income for spouse 1. Do the medical expenses for spouse 1 exceed
this amount? If so by how much? If the couple file separately can spouse 1 claim a deduction for medical expenses?
Select the correct choice below and fill in the answer box(es) within your choice.
A. 7.5%  of the adjusted gross income for spouse 1 is square  The medical expenses for spouse 1 exceed 7.5%  of
the adjusted gross income by ssquare  Therefore, spouse 1 can claim a deduction for medical expenses.
B. 7.5%  of the adjusted gross income for spouse 1 is ssquare  The medical expenses for spouse 1 do not exceed
7.5%  of the adjusted gross income Therefore, spouse 1 cannot claim a deduction for medical expenses.

Adjusted gross income of spouse 1: 71,000 Adjusted gross income of spouse 2: 67,000 Combined deductions without medical expenses: 33,000 Medical expenses for spouse 1: 10,000 Medical expenses for spouse 2: none individual adjusted gross incomes, total Suppose a married couple have the following combined deductions, and medica expenses. Answer parts (a)-(f) Click the icon to view the 2021 marginal tax rates and standard deductions. Medical expenses in excess of 7.5% of adjusted gross income can be claimed as a deduction. income. Therefore, the couple cannot claim a deduction for medical expenses. b. Calculate the income tax owed by the couple if they file jointly. The income tax owed by the couple if they file jointly is 14597 (Simplify your answer.) C. Calculate 7.5% of the adjusted gross income for spouse 1. Do the medical expenses for spouse 1 exceed this amount? If so by how much? If the couple file separately can spouse 1 claim a deduction for medical expenses? Select the correct choice below and fill in the answer box(es) within your choice. A. 7.5% of the adjusted gross income for spouse 1 is square The medical expenses for spouse 1 exceed 7.5% of the adjusted gross income by ssquare Therefore, spouse 1 can claim a deduction for medical expenses. B. 7.5% of the adjusted gross income for spouse 1 is ssquare The medical expenses for spouse 1 do not exceed 7.5% of the adjusted gross income Therefore, spouse 1 cannot claim a deduction for medical expenses.

Solução

expert verifiedVerification of experts
4.6352 Voting
avatar
HermíniaMestre · Tutor por 5 anos

Responder

To solve the problem, let's go through each part step by step.<br /><br />### Part (a)<br />The couple cannot claim a deduction for medical expenses when filing jointly because their combined medical expenses do not exceed 7.5% of their combined adjusted gross income.<br /><br />### Part (b)<br />The income tax owed by the couple if they file jointly is given as $14,597.<br /><br />### Part (c)<br />We need to calculate 7.5% of the adjusted gross income for spouse 1 and determine if the medical expenses exceed this amount.<br /><br />1. **Calculate 7.5% of Spouse 1's Adjusted Gross Income:**<br /><br /> \[<br /> 7.5\% \text{ of } \$71,000 = 0.075 \times 71,000 = \$5,325<br /> \]<br /><br />2. **Compare Medical Expenses to 7.5% Threshold:**<br /><br /> - Medical expenses for spouse 1: \$10,000<br /> - 7.5% threshold: \$5,325<br /><br /> Since \$10,000 (medical expenses) exceeds \$5,325 (7.5% of AGI), spouse 1 can claim a deduction for the excess amount.<br /><br />3. **Calculate Excess Amount:**<br /><br /> \[<br /> \text{Excess amount} = \$10,000 - \$5,325 = \$4,675<br /> \]<br /><br />Therefore, the correct choice is:<br /><br />**A.** 7.5% of the adjusted gross income for spouse 1 is \$5,325. The medical expenses for spouse 1 exceed 7.5% of the adjusted gross income by \$4,675. Therefore, spouse 1 can claim a deduction for medical expenses.
Clique para avaliar: