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Solution in Search of a Problem - KillerAngel

Posted: Jan 23rd, 2020 - 11:42 am In Reply to: Senators introduce bill to prevent using abortions as - tax deductions

You can't just deduct the cost of an abortion or any other qualifying medical procedure.

You can only deduct the out-of-pocket amount that is above 10% of your adjusted gross income.

If insurance, Medicaid or a health savings account has paid the full amount, there is nothing deductible.

With the increased standard personal deduction, itemizing deductions, which is what you must do to claim a medical expense deduction, often is not worthwhile unless you have other reasons to itemize.

If all one wants is an income tax deduction, there are several others that are easier to get than getting pregnant and having an abortion. Maybe put some money in an IRA? Maybe make a charitable contribution?

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Senators introduce bill to prevent using abortions as - tax deductions (Views: 426, 2020-01-23, 3:01 am)
- Wow it's deductible? It shouldn't be, it's elective. So - basically, the taxpayer is paying (Views: 422, 2020-01-23, 3:03 am)
  - Lots of medical procedures are elective. - You cannot make a (Views: 287, 2020-01-23, 4:46 am)
  - This is why I'm for a flat tax. The way the current tax - system is set up, it pits people (Views: 214, 2020-01-25, 7:10 am)
- its elective and has no medical justification (except in - the most utterly rare instances) (Views: 335, 2020-01-23, 5:25 am)
  - It is a surgical procedure and it is - elective. (Views: 282, 2020-01-23, 6:54 am)
  - This is the biggest problem I have with the IRS. They - pit people against each other, (Views: 272, 2020-01-25, 7:16 am)
- It can be deducted???? There's no limit to the depravity. - Americans can just get a nice IRS deduction. (Views: 247, 2020-01-23, 7:14 am)
  - An Abortion is a Medical Procedure - Tina (Views: 209, 2020-01-23, 6:23 pm)
- Only an incredibly shallow society could find this okay. - nm (Views: 218, 2020-01-23, 10:12 am)
- Solution in Search of a Problem - KillerAngel
- See how the law spins it, as a "medical" expense. - ... (Views: 245, 2020-01-23, 1:21 pm)
- But breast implants for exotic dancers - Are deductible (Views: 240, 2020-01-25, 6:19 am)
  - This has nothing to do with capitalism and the IRS - characterized them as nondeductible (Views: 200, 2020-01-25, 7:04 am)
  - Get rid of all deductions and let's just have a flat tax. - It would make things so much (Views: 208, 2020-01-25, 7:18 am)