Answer:
deductible expenses = $5000
Explanation:
given data
gross income = $30,000
medical expenses = $8,000
floor for deduction = 10 %
to find out
How much of a tax deduction will Kaye be able to deduct
solution
we find here deductible expenses that is express as
deductible expenses = medical expenses - ( 10% × gross income ) ...............1
put here value we get
deductible expenses = 8000 - ( 10% × $30,000 )
deductible expenses = 8000 - ( 3000 )
deductible expenses = $5000
