Have a Tax Question? Ask a Tax Expert
Medicare B is a supplemental medical insurance. Premiums you pay for Medicare B are a medical expense.
Generally, you can deduct on Schedule A (Form 1040) only the amount of your medical and dental expenses that is more than 10% of your AGI. But if either you or your spouse was born before January 2, 1951, you can deduct the amount of your medical and dental expenses that is more than 7.5% of your AGI.
I know rating takes an additional step and I truly appreciate it when you take the extra time!You have to actively click on a rating (OK or Better) and click submit. Smiley Faces or Stars.When you actively click on a rating and click submit, that lets Just Answer know you were assisted and credits me for the time.
It appears that you are asking if the $500,000 of gain exclusion under IRC 121 can be used after the marriage instead of the $250,000 for single.
Unfortunately no, the single exclusion amount would still apply because they were single in the year of the sale.
Please disregard the second post. The system crossed 2 of my responses.
Please advise if you need more information about medical deductions.