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Federal Taxation

Business

Quiz 22 :

Itemized Deductions

Quiz 22 :

Itemized Deductions

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All of the following are deductible as medical expenses except
Free
Multiple Choice
Answer:

Answer:

A

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If a medical expense reimbursement is received in a year after a deduction has been taken on a previous year's return, the previous year's return must be amended to eliminate the reimbursed expense.
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True False
Answer:

Answer:

False

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In 2016 Sela traveled from her home in Flagstaff to San Francisco to seek specialized medical care. Because she was unable to travel alone, her father accompanied her. Total expenses included: img The total medical expenses deductible before the 10% limitation are
Free
Multiple Choice
Answer:

Answer:

B

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Due to stress on the job, taxpayer Fiona began to experience anxiety attacks. Her doctor advised her to engage in some relation activities. Fiona enrolled in yoga lessons. The cost of the yoga lessons to alleviate this medical condition is tax deductible.
True False
Answer:
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Capital expenditures incurred for medical purposes which permanently improve or better the taxpayer's property are deductible, but only to the extent the cost exceeds the increase in fair market value to the property attributable to the capital expenditure.
True False
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The definition of medical care includes preventative measures such as routine physical examinations.
True False
Answer:
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A medical expense is generally deductible only in the year in which the expense is actually paid.
True False
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If the principal reason for a taxpayer's presence in an institution (e.g. a nursing home) is the need and availability of medical care, the entire cost of lodging and meals is considered qualified medical expenditures.
True False
Answer:
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Expenditures for a weight reduction program are deductible if recommended by a physician to treat a specific medical condition such as hypertension caused by excess weight.
True False
Answer:
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Jeffrey, a T.V. news anchor, is concerned about the wrinkles around his eyes. Because it is job-related, the cost of a face lift to eliminate these wrinkles is a deductible medical expense.
True False
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Expenditures incurred in removing structural barriers in the home of a physically handicapped individual are deductible only to the extent the costs exceed the increase in fair market value to the property attributable to the capital expenditure.
True False
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For individuals, all deductible expenses must be classified as deductions for AGI or deductions from AGI.
True False
Answer:
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Medical expenses incurred on behalf of children of divorced parents are deductible by the parent who pays the expenses but only if that parent also is entitled to the dependency exemption.
True False
Answer:
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Van pays the following medical expenses this year: • $1,500 for doctor bills for Van's son who is claimed as a dependent by Van's former spouse. • $300 for Van's eyeglasses. • $900 for Van's dental work. • $3,800 for Van's face lift. Van, a newscaster, is worried about the wrinkles around his eyes. How much can Van include on his return as qualified medical expenses before limitation?
Multiple Choice
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Expenditures for long-term care insurance premiums qualify as a medical expense deduction subject to an annual limit based upon the age of an individual.
True False
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If a prepayment is a requirement for the receipt of the medical care, the payment is deductible in the year paid rather than the year in which the care is rendered.
True False
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Medical expenses paid on behalf of an individual who could be the taxpayer's dependent except for the gross income or joint return tests are deductible as itemized deductions.
True False
Answer:
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All of the following payments for medical items are deductible with the exception of the payment for
Multiple Choice
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Medical expenses are deductible as a from AGI deduction to the extent that they exceed 2 percent of the taxpayer's AGI.
True False
Answer:
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In order for a taxpayer to deduct a medical expense, the amount must be paid to a licensed physician.
True False
Answer:
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