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Health & Fitness

Deductable Medical Expenses For This Tax Year

Beginning this tax year, the only medical expenses that you can deduct are those in excess of 10% of your adjusted gross income (AGI), up from the previous 7.5% AGI limitation. The limitation remains at 7.5% for taxpayers age 65 and over through 2016. So, for many taxpayers, it will be more difficult to deduct medical costs beginning this year.

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