Phillip, Age 66, Developed Hip Problems and Was Unable to Climb

question 70

Multiple Choice

Phillip, age 66, developed hip problems and was unable to climb the stairs to reach his second-floor bedroom. His physician advised him to add a first-floor bedroom to his home. The cost of constructing the room was $32,000. The increase in the value of the residence as a result of the room addition was determined to be $17,000. In addition, Phillip paid the contractor $5,500 to construct an entrance ramp to his home and $8,500 to widen the hallways to accommodate his wheelchair. Phillip's AGI for 2014 was $100,000. How much of these expenditures can Phillip deduct as a medical expense in 2014?

• A) $14,000.
• B) $15,000.
• C) $21,500.
• D) $29,000.
• E) None of the above.

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Definitions:

Early Adulthood

The period in a person's life typically ranging from the ages of 20 to 40, where many experience personal and professional growth.

Polygenetic

Involving or determined by multiple genes, often relating to the complex traits and variations in organisms.

DNA Segments

Portions of the DNA molecule that carry genetic information; these can encode genes, regulate gene expression, or have structural or unknown functions.

Family-Environment Effect

The impact of the familial setting on an individual's development, behaviors, values, and beliefs, emphasizing the role of upbringing.