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#1
02-03-2005, 02:33 PM
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 deductions?What is the name of your state? Oklahoma This may sound like a really stupid question, but what exactly is the benefit of stating medical deductions? In this coming year I will have doctors appointments every few months 300+ miles away and have all types of different medication expenses as well. Plus, my husband will be going to school as well. Just to get a general idea, will these benefit in the long run in the form of a bigger refund, or something? Thanks |
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#2
02-03-2005, 10:06 PM
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| If you have other Schedule A deductions, such as mortgage interest, property taxes and contributions to charity, medical expenses greater than 7.5% of your Adjusted Gross Income can reduce your tax liability. Snipes
__________________ This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post. |
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#3
02-03-2005, 10:43 PM
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| Thank you very much. What if you've made so little that your tax liability is already 0? |
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#4
02-04-2005, 12:05 AM
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| Then there's no need to bother. Snipes
__________________ This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post. |
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#5
02-04-2005, 12:22 AM
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| Thank you very much! I appreciate it!  |
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