During the Current Year, Maria and Her Three Dependent Children

question 2

Essay

During the current year, Maria and her three dependent children had annual physical exams, which cost $750, and dental checkups for all four of them, which cost $420. In addition, Maria paid $800 for medically supervised treatments to enable her to stop smoking. After she stopped smoking, she began to gain weight and incurred $1,200 in costs for a medically supervised weight loss program. Which of these expenses qualify for the medical deduction?

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Definitions:

Resource Market

A market in which households sell and firms buy resources or the services of resources.

Financial Capital

Refers to the funds provided by lenders (and investors) to businesses to purchase real capital equipment for producing goods/services.

Raw Materials

Basic materials that are processed or refined to create goods and products in various industries.

Soviet Union

A former federation of Communist republics that was established in 1922 and dissolved in 1991, consisting of Russia and several other countries in Eurasia.