Randy Is Advised by His Physician to Install an Elevator

question 95

Multiple Choice

Randy is advised by his physician to install an elevator in his residence, since he is afflicted with heart disease. The cost of installing the elevator is $10,000 and it has an estimated useful life of 10 years. He installs the elevator in January of 2014, and it increases the value of his residence by $8,000. Disregarding the limitation based on adjusted gross income, how much of the cost of the elevator may Randy take into account in determining his medical expense deduction for 2014?

• A)$0
• B)$750
• C)$2,000
• D)$10,000
• E)None of the above

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Definitions:

Acceptability

The degree to which a concept, process, or proposal is agreeable or satisfactory to a group of people.

Impact Goals

Objectives focused on achieving significant and measurable effects or outcomes in a specific area.

Evaluation Phase

A stage in a process where the outcomes are analyzed to assess effectiveness, efficiency, and impacts.

Case Management

A joint process that evaluates, organizes, executes, oversees, and reviews the necessary options and services to fulfill a person's health and social service requirements.