Ethan is itemizing deductions on his federal income tax return and had $4,200 in medical expenses last year if his AGI was $39,000 and if medical expenses are deductible to the extent that they exceed 7.5% of a taxpayer's AGI how much can ethan deduct for medical expenses

Question

Mathematics

Sharon

31 December, 02:00

Ethan is itemizing deductions on his federal income tax return and had $4,200 in medical expenses last year if his AGI was $39,000 and if medical expenses are deductible to the extent that they exceed 7.5% of a taxpayer's AGI how much can ethan deduct for medical expenses

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Answers (1)

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Beckham Gross · Answer 1

1275.

to find 7.5% of his income multiply 39000 by. 075

39000*.075 = 2925

subtract 2925 from his total medical expenses to find the deductible amount

4200-2925 = 1275