What amount could be claimed


In 2009, Welch paid the following expenses:

Premiums on an insurance policy against loss of earnings due to sickness or accident $3,000
Physical therapy after spinal surgery $2,000
Premium on an insurance policy that covers reimbursement for the cost of prescription drugs $500

In 2009, Welch recovered $1,500 of the $2,000 that she paid for physical therapy through insurance reimbursement from a group medical policy paid for by her employer. Disregarding the adjusted gross income percentage threshold, what amount could be claimed on Welch's 2009 income tax return for medical expenses?

 

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Accounting Basics: What amount could be claimed
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