Deduct as a medical expense

Reference no: EM13146549

Lonnie developed severe arthritis and was unable to climb the stairs to reach his second-floor bedroom. His physician advised him to add a first-floor bedroom to his home. The cost of constructing the room was $28,000. The increase in the value of the residence as a result of the room addition was determined to be $12,000. In addition, Lonnie paid the contractor $5,000 to construct an entrance ramp to his home and $7,000 to widen the hallways to accommodate his wheelchair. Lonnie's AGI for the year was $80,000. How much of these expenditures can Lonnie deduct as a medical expense?

a) $10,000.

b) $16,000.

c) $22,000.

d) $40,000.

Reference no: EM13146549

Questions Cloud

Determining unamortized bond discount : Moon uses the effective interest method of amortizing bond discount. Interest is payable annually on June 30. At June 30, 2004, Moon's unamortized bond discount should be

Tank is a director and the majority shareholder : Tank is a director and the majority shareholder of Unique New Investment Corporation (UNIC). Tank buys, for $1,500, an option to purchase a tract of real estate for $50,000. Tank forms Vista Property, Inc., to hold the option. As the majority ..

Find the mean-median-mode-sample variance and range : Find the mean, median, mode, sample variance, and range. Do you think that this sample might have come from a normal population? Why or why not?

Define benzyl ethyl ether reacts with concentrated aqueous : Benzyl ethyl ether reacts with concentrated aqueous HI to form two initial organic products (A and B).

Deduct as a medical expense : In addition, Lonnie paid the contractor $5,000 to construct an entrance ramp to his home and $7,000 to widen the hallways to accommodate his wheelchair. Lonnie's AGI for the year was $80,000. How much of these expenditures can Lonnie deduct as a m..

Responsible for the execution of management : Who is legally responsible for the execution of management of a corporation ?

Balance in retained earnings : On 12/31/09, the ABC Co. had Retained Earnings of $400,000. During 2010, dividends of $3,000 were paid. There was a net income of $4,000 for the year 2010. What should be the balance in Retained Earnings on the 12/31/10 Balance Sheet?

Explain what is the molecular formula of the compound : What is the molecular formula of the compound 2,3-dimethyl-4-cyclopentyl-5-ethyldecane?

Is there evidence that dual degree students are receiving : Using a level of significance of .10, is there evidence that the dual degree students are receiving lower grades? Fully explain your answer.

User Account

All Pages