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Level 1
December 7, 2019
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Why is the % deduction for medical expenses (7.5% for Federal vs 10% for NY)? Why didn't NY revert back to 7.5% ?

  • December 7, 2019
  • 2 replies
  • 34 views

Why can I deduct medical expenses that exceed 7.5% of AGI for Federal returns while I can only deduct the excess of 10% of AGI for NYS?

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Best answer by sjrcpa

Because that is the federal and NY law. Federal was supposed to be 10% but some wranglimg brought it back to 7.5% for 2018.

2 replies

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

Because that is the federal and NY law. Federal was supposed to be 10% but some wranglimg brought it back to 7.5% for 2018.

The more I know the more I don’t know.
itonewbie
Level 15
December 7, 2019

NY Senate Bill §7509 amended rolling conformity to IRC by decoupling tax treatment on various items, including medical expense deduction, which was rolled back to the tax law in effect immediately prior to TCJA, hence the 10% floor.

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