[LauraG]

I’ve been studying for REG using Becker, and have been learning that medical expenses are deductible subject to 7.5% of AGI. When I started listening to the NINJA review this afternoon, I heard that this was the old rule, and the new limitation is subject to 10% of AGI. I’m testing on Monday, and I’m not sure which percentage is testable. Can anyone clear this up?

[Ntw6817]

10% is the percentage on the exam

[Jennifer241]

7.5% was the prior years rate, the current and testable amount is 10%.

Also the 7.5% is still in effect for people over the age of 65. I don't know if that will be tested or not.

AUD - Jan 9,13 Pass
REG - Aug 30,13 Pass
BEC - Oct 26,13 Pass
FAR - Dec 4,13 Pass

Licensed CPA in the state of Oregon

[Mehwish]

This is really helpful. I had no idea.

So glad I read this.

[Anonymous]

BUMP. News to me!

[Author]

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