[poornimavjk]

This is an excerpt from an Answer Explanation in Wiley:

“These expenses (Medical), which total $3,150, are deductible to the extent they exceed 10% of adjusted gross income, and result in a deduction of $150 ($3,150-$3,000).

Why is 10% applied instead of 7.5%? Does anyone know?

Thanks.

[FutureCPA2019]

Law keeps changing about the medical expenses. Currently, you can deduct medical expenses that exceed 10% of AGI if you’re itemizing. So, Wiley is correct. Perhaps, the 7.5% is from a book of an older version?

AUD - 90
BEC - 86
FAR - 87
REG - NINJA in Training

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[ezakipocky]

7.5% for 2017 & 2018. 10% for 2019

FAR 85
REG 87
AUD 82->89
BEC 81-EX

[jeff]

If you are using a 2019 Wiley book that didn't get updated for July 2019, then it would have 7.5%.

 

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