3. Mary is single, age 40 and received a $ 1,250 reimbursement from her medical...
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Accounting
3. Mary is single, age 40 and received a $ 1,250 reimbursement from her medical insurance company in 2021. Determine how much gross income (if any) Mary will recognize under the following situations: a. The reimbursement was for 2021 medical bills that Mary paid in 2021. b. The reimbursement was for 2020 medical bills that Mary paid in 2020 and Mary used a standard deduction in 2020? c. The reimbursement was for 2020 medical bills that Mary paid in 2020. Mary itemized deductions in 2020. Her Itemized deductions totaled $ 15,000 which included allowable medical expenses of $ 600. d. The reimbursement was for 2020 medical bills that Mary paid in 2020. Mary had deductible medical expenses in 2020 of $3,000, and her 2020 itemized deductions totaled $ 12,600
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