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Buy here: http:// student. land / ac-309-unit-5-chapter-problems /
Unit 5 Chapter Problems
Perform Chapter 10 Problems 2, 3, 7, 16, 20 & 28( Pages 10-37,38,39,40 & 41 in the text) and Chapter 11 Problems 5 & 17( Pages 11-27 & 28 in the text)
Chapter 10
2. LO. 2 Barbara incurred the following expenses during the year: $ 840 dues at a health club she joined at the suggestion of her physician to improve her general physical condition, $ 240 for multiple vitamins and antioxidant vitamins, $ 500 for a smoking cessation program, $ 240 for nonprescription nicotine gum, $ 600 for insulin, and $ 7,200 for funeral expenses for her mother who passed away in June. Which of these expenses may be included in computing the medical expense deduction?
3. LO. 2 Joe was in an accident and required cosmetic surgery for injuries to his nose. He also had the doctor do additional surgery to reshape his chin, which had not been injured. Will the cosmetic surgery to Joe’ s nose qualify as a medical expense? Will the cosmetic surgery to Joe’ s chin qualify as a medical expense? Explain.
7. LO. 2 David, a sole proprietor of a bookstore, pays a $ 7,500 premium for medical insurance for him and his family. Joan, an employee of a small firm that doesn’ t provide her with medical insurance, pays medical insurance premiums of $ 8,000 for herself. How does the tax treatment differ for David and Joan?
16. LO. 5 Ellen borrowed $ 50,000 from her parents for a down payment on the purchase of a new home. She paid interest of $ 3,200 in 2012, $ 0 in 2013, and $ 9,000 in 2014. The IRS disallowed the deduction. What explanation can you offer for the disallowance?