If you itemize your deductions and anticipate including some of your medical and dental expenses, then IRS Publication 502, "Medical and Dental Expenses," can help you determine which expenses qualify in the current tax year. After you total all of your
As of Jan. 1, 2019, you can only deduct the amount of the total un-reimbursed allowable medical care expenses for the tax year which exceeds 7.5% of your adjusted gross income: https://www.efile.com/medical-deductions/ Make the correction and re-efile your federal and state returns at ...
Life insurance policy limits refer to the maximum amount of coverage that a policyholder can have on their life insurance policy. These limits are set by the insurance company and may vary based on factors such as the policyholder’s age, health, and income. It’s essential to understand thes...
The IRS calculates advance premium tax credit amounts based on the taxpayer’sestimatesof yearly income and family size, provided at the time of enrollment in a health insurance marketplace plan. At the end of the year, when the taxpayer files a return, the total amount of premium tax credi...