GOP Tax Plan Proposes Cutting Medical Deduction for Seniors
Killing the medical tax deduction
Tucked into the GOP tax bill released on Thursday is a proposal that would hurt older adults, the sick and disabled, as well as the family members who help pay for their care.
House Republicans recommended eliminating the medical tax deduction, a provision that allows people to write off qualifying medical and dental expenses that exceed 10% of their adjusted gross income. As of now, individuals can deduct their own expenses and those of their tax dependents, which includes aging parents who live with the individual and meet other criteria.
Roughly 6% of tax filers take advantage of this deduction, and their ranks include those with expensive care needs: seniors in nursing homes, people with chronic medical conditions, and parents of disabled children.
More: GOP Tax Plan Proposes Cutting Medical Deduction for Seniors