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Health and Tax Deductions for Medical Expenses 1959
The article explains medical expense deductibility under the 1959 code with 3 percent AGI floor, $2,500 per personal exemption, $5,000 per separate return, and $10,000 joint or head of household limits. It covers dental costs, hospitalization premiums, drugs, eye care, nurse fees, and how to treat insurance reimbursements and timing. It notes that hospital payments to hospitals reduce taxable income when paid directly and that sick pay from employers has specific tax treatments.
MENTIONED IN THIS ARTICLE
Peter Te Oe
Internal Revenue Service