This topic has 30 replies, 8 voices, and was last updated 12 years, 5 months ago by barelystayingsane.

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September 11, 2013 at 3:21 pm #180405

Anonymous
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What is the AGI limit for medical expense deduction from now on-wards? Anyone know?

Thank you,

Sincerely, Alexander Dernfel III.

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September 11, 2013 at 3:55 pm #455331

Never_Give_Up1
Member

It is 10% going forward.

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September 11, 2013 at 3:55 pm #455471

Never_Give_Up1
Member

It is 10% going forward.

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September 11, 2013 at 4:07 pm #455333

barelystayingsane
Member

10% for individuals under 65; 7.5% for individuals 65 or older

September 11, 2013 at 4:07 pm #455473

barelystayingsane
Member

10% for individuals under 65; 7.5% for individuals 65 or older

September 11, 2013 at 4:12 pm #455336

jeff
Keymaster

10% – get the free REG Individual Tax NINJA Notes here: https://www.another71.com/cpa-exam-study-plan/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

September 11, 2013 at 4:12 pm #455475

jeff
Keymaster

10% – get the free REG Individual Tax NINJA Notes here: https://www.another71.com/cpa-exam-study-plan/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

September 11, 2013 at 5:16 pm #455338

terranz
Member

@Jeff – how does this affect AMT?

I'm thinking it should bc usually you have to adjust from 7.5 to 10%. Atleast I swear i've seen some question testing this. Is this not applicable now?

thanks!

September 11, 2013 at 5:16 pm #455477

terranz
Member

@Jeff – how does this affect AMT?

I'm thinking it should bc usually you have to adjust from 7.5 to 10%. Atleast I swear i've seen some question testing this. Is this not applicable now?

thanks!

September 11, 2013 at 5:20 pm #455340

jeff
Keymaster

For under 65, Med Expense is no longer a factor with AMT since they are both 10% thresholds.

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

September 11, 2013 at 5:20 pm #455479

jeff
Keymaster

For under 65, Med Expense is no longer a factor with AMT since they are both 10% thresholds.

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

September 13, 2013 at 10:02 pm #455342

Anonymous
Inactive

That was my next question Jeff.

September 13, 2013 at 10:02 pm #455481

Anonymous
Inactive

That was my next question Jeff.

September 14, 2013 at 12:44 am #455346

iwantmylifeback_
Member

Woops maybe I disclosed too much, sorry Jeff!

But the whole 10% vs 7.5% issue is confusing.

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September 14, 2013 at 12:44 am #455485

iwantmylifeback_
Member

Woops maybe I disclosed too much, sorry Jeff!

But the whole 10% vs 7.5% issue is confusing.

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September 14, 2013 at 12:45 am #455348

Anonymous
Inactive

iwantmylifeback_ what do you mean?
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