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Capital Expenditures as Medical Expense Deduction (LO. 2)

Paul, age 62, suffers from emphysema and severe allergies and,upon the recommendation of his physician, has a dust eliminationsystem installed in his personal residence. In connection with thesystem, Paul incurs and pays the following amounts during 2014:

Doctor and hospital bills $2,500
Dust elimination system 10,000
Increase in utility bills due tothe system 450
Cost of certified appraisal 300

In addition, Paul pays $750 for prescribed medicines.

The system has an estimated useful life of 20 years. Theappraisal was to determine the value of Paul’s residence with andwithout the system. The appraisal states that his residence wasworth $350,000 before the system was installed and $356,000 afterthe installation. Paul's AGI for the year was $50,000.

What is the total of his qualifying medical expenses for2014?
$

What is his medical expense deduction for 2014?
$

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Trinidad Tremblay
Trinidad TremblayLv2
28 Sep 2019

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