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So no more medical expense deduction (Original Post) SHRED Nov 2017 OP
Those of us spending more than 10% of our income on medical stuff will not be happy. Shrike47 Nov 2017 #1
I had $5,000 in out-of-pocket medical expenses. greatauntoftriplets Nov 2017 #2
And the GOP wants to take your deductions... SHRED Nov 2017 #3
Yup. greatauntoftriplets Nov 2017 #5
I didn't see any proposed changes dumbcat Nov 2017 #4
here: OKNancy Nov 2017 #6
Thank you dumbcat Nov 2017 #7
Yup, one of many items that are going to hurt the seniors, BigmanPigman Nov 2017 #8
Cruel people. Glimmer of Hope Nov 2017 #9
Expense for my bed bound WWII vet spouse's marybourg Nov 2017 #10

greatauntoftriplets

(175,742 posts)
2. I had $5,000 in out-of-pocket medical expenses.
Thu Nov 2, 2017, 06:45 PM
Nov 2017

An equal amount this year, if not more. Friends had $24,000 last year.

dumbcat

(2,120 posts)
4. I didn't see any proposed changes
Thu Nov 2, 2017, 06:49 PM
Nov 2017

in the medical deduction. Did anyone else?

I also didn't see any proposed changes in the special treatment of capital gains and qualified dividends.

OKNancy

(41,832 posts)
6. here:
Thu Nov 2, 2017, 06:54 PM
Nov 2017
http://thehill.com/policy/finance/358437-gop-tax-bill-would-eliminate-medical-expense-deductions

he House Republican tax bill would eliminate the ability for individuals to deduct qualified medical expenses, a provision that could have major implications for households with extremely high health-care costs.

Under current law, the IRS allows individuals to deduct qualified medical expenses that exceed 10 percent of a person’s adjusted gross income for the year. The bill would repeal that itemized deduction, effective in 2018.

The cost to repeal the medical expense deduction is about $10 billion per year.

The IRS currently allows individuals to deduct preventative care, treatment, surgeries and dental and vision care as qualifying medical expenses.
The medical expense deduction can also be used for long-term care expenses for chronically ill patients.

----------------------------

My expenses were over $12,000 this past year. Not counting Medicare and Supplemental insurance premium

BigmanPigman

(51,609 posts)
8. Yup, one of many items that are going to hurt the seniors,
Thu Nov 2, 2017, 07:04 PM
Nov 2017

ill, people with student loans, people who live in blue states and pay high city and state taxes, etc. Paul Ryan is seeing his boyhood dream come true. Cut and Kill Bill for the 1%.

marybourg

(12,633 posts)
10. Expense for my bed bound WWII vet spouse's
Thu Nov 2, 2017, 07:13 PM
Nov 2017

care: $50,000/year, which we've been paying ourselves. Not being able to deduct that, and with the loss also of personal exemptions, would cause a major upheaval in his care and my life.

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