Compute the after-tax cost of these expenses assuming

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Mr. and Mrs. Compton, ages 61 and 60, paid $9,280 of medical expenses that were not reimbursed by their private insurance provider. Compute the after-tax cost of these expenses assuming that:

a. The Comptons itemize deductions on their joint tax return, their AGI is $87,000, and their marginal tax rate is 25 percent.

b. The Comptons itemize deductions on their joint tax return, their AGI is $424,000, and their marginal tax rate is 33 percent.

c. The Comptons take the standard deduction on their joint tax return, their AGI is $39,000, and their marginal tax rate is 15 percent.

Having trouble with B & C what exemption or threshold am I missing? (Using 2016 Tax Code)

Reference no: EM131435669

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