Standard Deduction Medical Expenses
March 14th, 2010Question: Can large medical expenses totalling above 7.5% of adjusted gross income be carried forward to future years?
(if the portion above 7.5% of adjusted gross income is much larger than the standard deduction, for example)
Answer: Your deduction can be taken only in the year paid. If you have current bills that you haven’t paid, and you already have enough medical deductions to eliminate your taxes, wait until January 2010 to pay those bills.
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Tags: medical expenses, standard deduction, standard deduction medical expenses