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

question 73

True/False

Matt, a calendar year taxpayer, pays $11,000 in medical expenses in 2019.He expects $5,000 of these expenses to be reimbursed by an insurance company in 2020.In determining his medical expense deduction for 2019, Matt must reduce his 2019 medical expenses by the amount of the reimbursement he expects in 2020.

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Definitions:

Behavioral

Relating to or concerned with the actions or activities of living beings, especially in terms of observable and measurable responses to external stimuli.

Elementary School Child

Refers to a child attending elementary school, generally aged between 6 to 11 years, and developing in terms of cognitive, emotional, and social abilities.

Sense Of Inferiority

A feeling of not being as good as others, which can lead to motivation to achieve or can result in withdrawal and social avoidance.

Sandra Bem

A psychologist known for her work in gender studies, particularly the Bem Sex-Role Inventory, which challenges traditional gender norms and promotes the concept of androgyny.