Deductions
Before I start going to all of the trouble of calculating my potential deductions what is the amount that I need before they start to count. I have no debt, no mortgage, maybe $7,000.00+ in Medical and Medical insurance. My property taxes are about $6,000.00. My wife and I are both in our 70's. I have been told that if our deductions don't total over $22,000.00 or more that I don't needed to calculate them because I won't qualify for any. Our income consist of about $36K from Social Security, $30K from forced IRA distribution and $60K from long term investment dividends and sales of long term shares of stock etc. I hate to take my time adding up all my medical expenses, charitable contributions taxes if it not going to help.
Is this something you can help me with. I would rather be setting on the beach reading a book drinking a beer and living the good life and not looking at a bunch of old medical bills etc. I got all the records it is just a royal pain to go them if I don't need to extra work.
Hope to hear from you soon and thanks for your help,
Bill W.
