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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