John Bullis
For the Nevada Appeal

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February 19, 2013
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John Bullis: Odds and ends of tax law

Present tax law by Congress provides two kinds of deductions for medical expenses in 2013 that are claimed on Schedule A, form 1040. One group we will call "older" taxpayers, the other group is "younger" taxpayers.

In 2013, if the taxpayer is age 65 or older, or if a couple has at least one person age 65 or older, only 7.5 percent of Adjusted Gross Income is deducted from the medical expenses and the excess is a tax saving deduction for Schedule A.

On the other hand, the "younger" taxpayer, those under age 65, will deduct 10 percent of Adjusted …

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The Nevada Appeal Updated Feb 19, 2013 02:55AM Published Feb 19, 2013 02:55AM Copyright 2013 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.