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Old 03-18-2019, 12:29 PM   #18
BigO
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Quote:
Originally Posted by Rob G View Post
Yes, mileage can be itemized for medical treatment, but first you have to meet the threshold of 10% of your annual income (now it's 7.5%). Most people never come close to that. The number one health expense, health insurance, is already paid with pre-tax money. And, now, with the higher standard deduction, most people will take the standard deduction because, regardless of how many write-offs one has it won't get past $24k, which is the standard deduction for a married couple.

In states like NY, many people will pay more than the capped $10k for state and local taxes. So even for those people, they'll likely end up using the standard deduction, because they can only deduct $10k of their total states taxes.
Most people don't have my medical expenses. I understand what you are saying, but I am the exception to the rule.
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