1) Subtract 7 1/2% of G.I. from 812.35. That will be the deductible abount.
2) Two years is 24 months. Multiply that by the monthly payment to get the total rent payment during the lease.
Zoe's gross income is $16,960. His medical expenses for the year
amounted to $812.35. If he can deduct only the amount over 7 1/2% of
his gross income for medical expenses, how much can he deduct for
medical expenses?
2)Lola has a two-year lease that requires her to pay $295 rent per month.
What is the total amount she will pay for rent during the term of her
lease?
1 answer