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Posted by D. Stussy on March 18, 2008, 11:17 pm
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> >
> >> It makes no sense that OTC drugs cannot be deducted on schedule A.
> >> Aren't you supposed to exclude any FSA reimbursements from schedule
> >> Amedicaldeductions? If those include OTC drugs it would not be fair
> >> to have to subtract an amount including OTC drugs from a number that
> >> does not include them.
> >
> > Yes, you do have to include reimbursements. So if your doctor's
> > visits were $600, and FSA paid $500, you could only report $100 on
> > Schedule A before the 7.5%. If OTC drugs were deductible, the same
> > rule would apply.
> >
> > If you write to your congress person as Phil suggests, you can also
> > suggest lowering the threshold from 7.5% to 5%, and making (part of)
> > medical expenses not added back to AMT :).
>
> Why not eliminate the deductable altogether. After all we are talking
about
> the sick and wounded. while we are at it why not get rid of AMT
altogether.
Because the AMT is (almost) the flat tax you dreamed of. ;-)
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