The remaining $500 would not be deductible. Therefore, the answer is $7,500.
Deductible is a term used to describe a portion of an individual's or business' expense that can be subtracted from their total tax liability. It is an amount of money that can be deducted from one's total taxable income. Common deductions include contributions to charity, mortgage interest, state and local taxes, and medical expenses. Certain types of deductions are allowed by the Internal Revenue Service (IRS) for individuals and businesses to reduce their overall tax burden. Deductions reduce the amount of income that is subject to taxation, thus lowering one's total tax liability.
In 2018, the deduction for unreimbursed medical expenses is limited to the amount that exceeds 7.5% of Adjusted Gross Income (AGI). Therefore, in this case, $7,500 of the medical expenses would be deductible ($100,000 x 7.5% = $7,500).
The remaining $500 would not be deductible. Therefore, the answer is $7,500.
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