What is the medical deduction threshold for 2019? I see either 7.5% of AGI or 10% of AGI mentioned in different places. The Schedule A form in Turbotax shows 7.5% but the actual Schedule A form from the IRS site shows 10%. Which is correct?
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The medical deduction threshold of 7.5% has been extended to include 2019, as of 12/19/2019. See the linked publication below for more info on updates. Thanks to SuperUser @rjs for provision of the link
https://engagetax.wolterskluwer.com/Consolidated-Appropriations-Act-2020
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@RonS1 wrote:
The Schedule A form in Turbotax shows 7.5% but the actual Schedule A form from the IRS site shows 10%.
The IRS published Schedule A for 2019 earlier in December, before the new law was passed. They have not yet updated Schedule A to reflect the retroactive change in the new law.
In a prior conversation with tax adviser, Rob I mentioned to him that Turbo Tax's instructions relative to a deduction for real estate taxes refers the user to 2018 Schedule A but its references to items 5a and 5b seem to incorrectly refer to the wrong statement. He asked me to send my comment to you.
Looking for a response to to subject message. Was I wrong?
Nick 1933
Could you restate the question for us, please? We are not privy to whatever you and Rob may have talked about.
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