Minnesota

progree

(11,463 posts)

2. Well it gets f'ing confusing

Fri Feb 16, 2018, 01:02 PM

Feb 2018

For the federal -- there's one percentage for people over 65 and one for under 65....

I think it was 7.5% generally until the ACA -- raising the medical deduction threshold to 10% was a way to help pay for it (the ACA was revenue-neutral, so something has to pay for the subsidies, and this was one way).

For seniors, I think they left it at 7.5% (I know that was it for my 2016 taxes), but that was due to expire at the end of 2016, i.e. beginning in 2017, everyone was hit with the 10% threshold. Just looking at my 2016 Schedule A: seniors: 7.5%, others: 10% (On Edit: same is true on the 2014 and 2015 Schedule A's: seniors: 7.5%, others: 10%).

One surprising thing about the TCJA was that it cut it back to 7.5% for everybody for 2017 and 2018. It will be 10.0% in 2019 and thereafter.
https://www.hrblock.com/tax-center/irs/tax-reform/tax-cuts-and-jobs-act/

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Yes, Minnesota is taxing us, more.. [View all] question everything Feb 2018 OP

Just curious but I thought fed. % for medical deductions is now 10%...did I mishear? SWBTATTReg Feb 2018 #1

Well it gets f'ing confusing progree Feb 2018 #2

Yeah, you're right, and I thank you for bringing this to our attention... SWBTATTReg Feb 2018 #3

Again, thanks for the helpful link, I linked into and copied...nt SWBTATTReg Feb 2018 #4

I found the 2017 Schedule A -- it's 7.5% for everybody progree Feb 2018 #5

Thanks so much! God, I'm kicking myself, I could have done this too (link to the IRS, etc. SWBTATTReg Feb 2018 #6

Thanks, I'm glad it was useful progree Feb 2018 #7

It is 7.5% for 2017. Look at Schedule A question everything Feb 2018 #8

It's been 10% for several years for non-seniors and 7.5% for seniors progree Feb 2018 #9