deductionsandlosses∶certainitemizeddeductions(编辑修改稿)

deductionsandlosses∶certainitemizeddeductions(编辑修改稿)内容摘要：

660 of medical expenses for his son Mark. Mark is married to Judy and they file a joint return. Ed cannot include the $1,660 when calculating his medical expense deduction. ANS: F The joint return test is waived in determining dependency status for medical expense deduction purposes. Ed may include the $1,660 in calculating his medical expenses. PTS: 1 DIF: 1 REF: p. 106 | Example 7 OBJ: 2 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 5 min Deductions and Losses: Certain Itemized Deductions 107 10. In 2020, Julie traveled 1,000 miles for specialized medical treatment that was not available in her hometown. She paid $30 for meals during the trip, $70 for a hotel room on Tuesday night, and $40 in parking fees. She did not keep records of other outofpocket costs for transportation. Julie can include $330 in puting her medical expenses. ANS: T Julie can deduct $240 (1,000 miles  24 cents per mile) for transportation. The 24 cents per mile automatic mileage option for medical transportation does not include related parking fees and tolls, so she also can deduct the $40 paid for parking fees. She can deduct $50 for the hotel, but she cannot include the cost of meals ($240 + $50 + $40 = $330). PTS: 1 DIF: 1 REF: p. 107 OBJ: 2 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 5 min 11. Walter traveled to another city to obtain specialized outpatient medical care not available in his hometown. His sister acpanied him because he was too ill to travel alone. He may include the cost of his airfare and lodging (up to $50 per night for himself and up to $50 per night for his sister) in determining his medical expense deduction. ANS: T Payments for transportation to and from a point of treatment for medical care are deductible as medical expenses (subject to the % floor). Lodging is also deductible (up to $50 per night for the patient and for the panion). PTS: 1 DIF: 1 REF: p. 107 | Example 9 OBJ: 2 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 5 min 12. Barbara, who is selfemployed, paid $3,600 for medical insurance coverage. She can include 100% of the $3,600 when calculating her itemized medical expense deduction. ANS: F Insurance coverage paid by a selfemployed individual is deductible as a business expense (., as a deduction for AGI), not as an itemized medical expense. PTS: 1 DIF: 1 REF: p. 108 OBJ: 2 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 5 min 13. Jim’s employer pays half of the premiums on a group medical insurance plan covering all employees, and employees pay the other half. Jim can exclude the half of the premium paid by his employer from his gross ine and may include the half he pays in determining his medical expense deduction. ANS: T Medical coverage provided by an employer is a nontaxable fringe benefit. Premiums paid by the taxpayer may be included in determining deductible medical expenses. PTS: 1 DIF: 1 REF: p. 107 OBJ: 2 NAT: AICPA FNReporting | AACSB Analytic MSC: 5 min 108 2020 Comprehensive Volume/Test Bank 14. Matt, a calendar year taxpayer, pays $11,000 in medical expenses in 2020. He expects $5,000 of these expenses to be reimbursed by an insurance pany in 2020. In determining his medical expense deduction for 2020, Matt must reduce his 2020 medical expenses by the amount of the reimbursement he expects in 2020. ANS: F Unlike the casualty loss deduction, the medical expense deduction does not have to be reduced by anticipated recoveries. Matt can include all $11,000 as a medical expense in 2020. PTS: 1 DIF: 1 REF: p. 108 OBJ: 2 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 5 min 15. In 2020, Rhonda received an insurance reimbursement for medical expenses incurred in 2020. She is not required to include the reimbursement in gross ine in 2020 if she claimed the standard deduction in 2020. ANS: T The reimbursement is included in gross ine only to the extent the taxpayer derived a tax benefit from deducting the expense in the previous year. Because Rhonda did not itemize in 2020, she received no tax benefit. PTS: 1 DIF: 1 REF: Example 12 OBJ: 2 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 5 min 16. Geia contributed $2,000 to a qualifying Health Savings Account in 2020. The entire amount qualifies as a medical expense and is potentially deductible as an itemized deduction. ANS: F The payment to the HSA is a deduction for AGI. PTS: 1 DIF: 1 REF: p. 1010 OBJ: 2 NAT: AICPA FNReporting | AACSB Analytic MSC: 2 min 17. Shirley pays FICA (employer’s share) on the wages she pays her maid to clean and maintain Shirley’s personal residence. The FICA payment is not deductible as an itemized deduction. ANS: T The payment is a nondeductible personal expense. PTS: 1 DIF: 1 REF: Exhibit OBJ: 3 NAT: AICPA FNReporting | AACSB Analytic MSC: 2 min 18. Fees for automobile inspections, automobile titles and registration, bridge and highway tolls, parking meter deposits, and postage are not deductible if incurred for personal reasons, but they are deductible as deductions for AGI if incurred as a business expense by a selfemployed taxpayer. ANS: T Deductible and nondeductible taxes are summarized in Exhibit . Specified taxes (such as state ine taxes and real and personal property taxes) are deductible as itemized deductions, but personal fees are not. However, fees incurred in a trade or business are deductible, but not as itemized deductions. PTS: 1 DIF: 1 REF: p. 1012 OBJ: 3 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min Deductions and Losses: Certain Itemized Deductions 109 19. A taxpayer may not deduct the cost of new curbing (relative to a personal residence), even if the construction is required by the city and the curbing provides an incidental benef。