Matt, a Calendar Year Taxpayer, Pays $11,000 in Medical Expenses

question 51

True/False

Matt, a calendar year taxpayer, pays $11,000 in medical expenses in 2017. He expects $5,000 of these expenses to be reimbursed by an insurance company in 2018. In determining his medical expense deduction for 2017, Matt must reduce his 2017 medical expenses by the amount of the reimbursement he expects in 2018.

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Definitions:

Enlistment

The act of signing up or joining a military force, often characterized by a formal commitment through a contract.

Child Health Care

Medical services focused on the physical, emotional, and social health of children from birth through adolescence.

Four E's

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Patient Care Hours

The amount of time healthcare professionals spend providing direct care and support to patients.