Valentino is a patient in a nursing home for 45 days of


Valentino is a patient in a nursing home for 45 days of 2016. While in the nursing home, he incurs total costs of $13, 500. Medicare pays $8,000 of the costs. Valentino receives $15,000 from his long-term care insurance policy, which pays while he is in the facility. Assume that the daily federal amount for Valentino is $310. Of the $15,000, what amount may Valentino exclude from his grass income?

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Financial Accounting: Valentino is a patient in a nursing home for 45 days of
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