Medical Expenses Over 10% of AGI Deductible?

[zeros]

Heard this in a seminar today. Not sure when it is effective.

[Snaggletooth]

End of Year

Zero I heard somewhere it was a "lock" for 2010, unless it is still hung up in pending legislation (in which case it may not happen).

Disgusting. The govt refuses to do a thing about the cost of medical, but they sure don't want to pay for it. In these days, some insurance alone is costing over 7.5%.

[Gene V]

Heard this in a seminar today. Not sure when it is effective.

I believe that was part of the Health Care Reform act sign in March, takes eff. 2013

[Lion]

2013

2013.

However, for the years 2013, 2014, 2015, and 2016, if either the taxpayer or the spouse turns 65 before the end of the taxable year, the increased threshold does not apply and the threshold remains at 7.5% of AGI.

But, who knows what will be passed when Congress (hopefully, full of lame ducks) reconvenes 15 November?!

VOTE.