3-30-11 Special Oregon Mediacl Deduction Allowed for Taxpayers or the age of 62 |
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Special Oregon Medical Deduction Allowed for Taxpayers Over the age of 62 The special Oregon medical deduction allows Oregonians over the age of 62 to deduct 100% of their out of pocket medical expenses. Federal Return: If you itemize your deductions on the federal return, medical expenses are deductible from your income taxes on Schedule A of your tax return. However, they are subject to a special limit: They are deductible only to the extent they exceed 7.5% of your adjusted gross income (AGI). Oregon Return: Oregon has a special set of rules that are advantageous if you are over age 62. If you are in this age category, you are able to deduct the remaining amount of medical expenses that you could not take on your Federal return, on your Oregon return. If you have any questions about this, please let us know.
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