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Medical expense deductions
We have medical expenses that we can either pay in monthly installments or a lump sum. If we pay the lump sum, it will put us over the 10% of adjusted gross income to be able to deduct. My question is this, will the amount deducted be a $1 to$1 on our return? So if we exceed 10% of AGI by $1200, would we be getting $1200 more in our return? if it is not a $1 to$1, what is the exchange rate?
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‎June 5, 2019
3:31 PM