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Medical expenses that exceed 7.5% of a person’s income may be used as a tax deduction. If Candela made $60,000 last year, after what amount of medical expenses would she be able to use the remaining expenses as a tax deduction?

Respuesta :

Answer:To find out the amount of medical expenses that Candela would be able to use as a tax deduction, we first need to calculate 7.5% of her income. Then, we subtract this amount from her total medical expenses.

Step 1: Calculate 7.5% of Candela's income:

7.5

%

of

$

60

,

000

=

0.075

×

$

60

,

000

=

$

4

,

500

7.5% of $60,000=0.075×$60,000=$4,500

Step 2: Subtract this amount from her total medical expenses to find the threshold for deductible expenses:

Threshold

=

$

60

,

000

−

$

4

,

500

=

$

55

,

500

Threshold=$60,000−$4,500=$55,500

So, Candela would be able to use the remaining medical expenses as a tax deduction after they exceed $55,500.

Step-by-step explanation:

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