Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. valentino is a patient in a nursing home for 62 da

Valentino is a patient in a nursing home for 62 days of 2019. While in...

90.2K

Verified Solution

Question

Accounting

Valentino is a patient in a nursing home for 62 days of 2019. While in the nursing home, he incurs total costs of $27,528. Medicare pays $16,517 of the costs. Valentino receives $30,281 from his long-term care insurance policy, which pays while he is in the facility. Assume that the Federal daily excludible amount for Valentino is $370.

Of the $15,000, what amount may Valentino exclude from his gross income?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

4 d 3 2d 1 4 1 20 1

Algebra
Q

Describe and analyze an algorithm to determine the number of shortest paths from a source vertex...

Programming
Q

Q 4. With the aid of fourth order Runge-Kutta method, solve the competing species model [20 points] defined...

Advance Math
Q

The key result of the Citric Acid Cycle is to load the shuttle buses NADH...

Biology
Q

The five number summary for a set of data is given below Min Q1 Median...

Statistics
Q

2 a 8 Pts Parameterize the infinite 2D straight line that is parallel to the...

Calculus
Q

2 Write the equation of the line that passes through the point 3 1 and...

Algebra
Q

Consolidation spreadsheet for continuous sale of inventory - Equity method Assume that a parent company...

Accounting
Q

It is Part B I am looking for help on. Here is the Question plus...

Accounting
Q

Q5 (20 marks) The following intormation pertains to Brian Stone Corporation: Beginning fixed manutacturing overhead...

Accounting
Q

Dorothy Koehl recently leased space in the Southside Mall and opened a new business, Koehl's...

Finance
Q

As companies evolve, certain factors can drive sudden growth. This may lead to a period...

Finance