W, Who Is Married and Files a Joint Return, Had $\quad \$ 6,000$

question 16

Multiple Choice

W, who is married and files a joint return, had adjusted gross income last year of $50,000.The following is a list of W's itemized deductions for last year: Unreimbursed medical expenses before limitation $\quad \$ 6,000$
Charitable contributions $\quad$$\quad$$\quad 3,000$
Interest paid on home mortgage $\quad$$\quad 5,000$
State and local property taxes $\quad$$\quad$$\quad$ 3,500 This year, W received $6,000 as reimbursement from his insurance company for his medical expenses in the prior year.How much of the reimbursement must W include in this year's gross income?

• A)$0
• B)$2,250
• C)$6,000
• D)$3,750

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Definitions:

Procurement Organization

An entity responsible for acquiring goods and services needed by a company or institution to function effectively.

Purchasing

The process of acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process.

Vendors And Suppliers

Businesses or individuals that provide products or services to other entities as part of the supply chain.

Payments

Transactions involving the transfer of money or valuables in exchange for goods, services, or to fulfill obligations.