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During 2019, Linda suffered serious injuries in an automobile accident. She incurred the following costs as a result:
Doctor bills $15,700 Hospital bills 10,300 Physical therapy to recover full mobility 5,000 Transportation to/from hospital and doctor's office 200
Problem 1: Linda is single with no dependents. Her 2019 salary was $68,000. She paid $1,000 in medical and dental insurance premiums, which were withheld from her salary on an after-tax basis, $4,250 in mortgage interest on acquisition indebtedness on her personal residence, and $1,500 in interest on her car loan. She was reimbursed for $15,000 in medical expenses by her health insurer. Calculate her 2019 taxable income.
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AYB221 Accounting Systems and Analytics - MYOB Assignment Help, QUT Business School, School of Accountancy, Queensland University of Technology, Australia
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