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What is her 2011 taxable income

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Reference no: EM13503301

During 2011, Emily sustains serious injuries from a snow-skiing accident. She incurs the following expenses:

Item

Amount

Doctor bills

$11,700

Hospital bills

9,400

Hot and warm sauna

15,000

Legal fees in suit against ski resort

3,000

Emily is single and has no dependents. For the year, her AGI is $58,000. In 2011, she pays $600 in medical and dental insurance premiums, which are withheld from her paycheck on an after-tax basis, $2,750 in mortgage interest on her home, and $1,200 in interest on her car loan. Her health insurance provider reimburses her for $10,000 of the medical expenses. Based on her doctor's recommendation and prescription, Emily had a contractor install a certified hot and warm sauna at a cost of $15,000 in the year. She paid all of it with her savings in 2011. The Fair Market Value of the property improved by $7,500. Emily had real estate taxes of $4,000 on her property. Emily had no other personal exemptions. Based on this case study information, determine Emily's itemized deductions. Which of these items can and cannot be listed as medical deductions? Why? What is her 2011 taxable income?

 

Reference no: EM13503301

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