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Medical Expenses as Itemized Deductions

February 1st, 2016

The IRS has changed the calculation for Itemized Medical Expenses on Schedule A of Form 1040. For the tax years 2013 and later unreimbursed medical expenses that exceeded 10.0% of the taxpayer’s adjusted gross income are deductible. However, if the taxpayer or spouse is 65 or older, the pre-2013 7.5% floor remains in place until tax year 2016 when all taxpayers will be subject to the 10% floor.

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