Ms lincoln age 51 paid 14340 of medical expenses this year


Ms. Lincoln, age 51, paid $14,340 of medical expenses this year that were not reimbursed by her insurance provider. Compute the after-tax cost of these expenses assuming that:

a. Ms. Lincoln doesn't itemize deductions on her Form 1040.

b. Ms. Lincoln itemizes deductions, her AGI is $48,300, and her marginal tax rate is 25 percent.

c. Ms. Lincoln itemizes deductions, her AGI is $127,300, and her marginal tax rate is 28 percent.

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Financial Management: Ms lincoln age 51 paid 14340 of medical expenses this year
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