[Previous Months][Date Index][Thread Index][Join - Register][Login]
[Message Prev][Message Next][Thread Prev][Thread Next]

[IP] Tax deductions

In a message dated 4/7/01 7:58:17 PM, email @ redacted writes:

<< > I don't know about the insurance, but for the tax issue: medical 
> in order to become part of your itemized deductions, must be greater than
> 7.5% of your adjusted gross income.
> Example: if your adjusted gross income is $40,000, and your total medical is
> $4,000, you can deduct $1,000 because 7.5% is 3000 and the $1000 is above
> that. If you had $10,000 in medical costs, $7,000 would be deductible.
> The above statement does not count as professional tax advice and cannot be
> interpreted as tax planning, tax advice, or construed as a statement to tell
> the IRS.

That is true -- and deductible to the point that the total itemization of all
lines exceeds the standard deduction. With my 10 Rx meds, lots of *-ologists*,
mileage, etc., we cannot deduct medical.  >>

Yes, I understand that, but what I want to know is if such an item as a Medic 
Alert ID is deductible if you make the numbers to be able to do medical de

Or if the Insurance covers such an item for us?

for HELP or to subscribe/unsubscribe, contact: HELP@insulin-pumpers.org
send a DONATION http://www.Insulin-Pumpers.org/donate.shtml