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vladtepes

NJ Income Tax Filing..

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vlad....if you rent also file for the tenant rebate which is part of the nj-1040 and even though its usually difficult to reach the threshold on the federal, usually people can reach it on the NJ for medical expenses. i think it's 2% of your AGI. somewhere in that area. it'll give you a bit more of a deduction on the NJ and decrease your tax by a few dollars.

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Stupid Question: Are dental expenses allowed as medical expenses?

 

ETA: How about eye care and prescriptions? Can I claim over the counter drugs?

Dental yes.

Glasses and contacts yes.

 

Let me double check on some of the peripherals. I don't think so. Stuff like advil, supplements, etc. No. Let me see if i can dig up a cheat sheet to refer to.

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Stupid Question: Are dental expenses allowed as medical expenses?

 

ETA: How about eye care and prescriptions? Can I claim over the counter drugs?

 

Unless you've been quite ill and/or had a bad year being unemployed you won't have enough medical expenses to overtake the basic deduction.

 

They give you the option of a standard deduction or you can itemize. Your medical needs to be over 7.5% over your adjusted gross income.

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Unless you've been quite ill and/or had a bad year being unemployed you won't have enough medical expenses to overtake the basic deduction.

 

They give you the option of a standard deduction or you can itemize. Your medical needs to be over 7.5% over your adjusted gross income.

 

Yea - since I get reimbursed through health insurance, I never meet the mins. I believe the state is lower than the fed % and I still don't make it. Not even close. You need to have a pretty severe health problem and bad (or no) health insurance to benefit.

 

I've been using Turbo Tax for years and it makes tax prep cake. I have basic write-offs from owning a house. For $49.00 Fed and state, it's well worth it. Free electronic filing with fed.

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Unless you've been quite ill and/or had a bad year being unemployed you won't have enough medical expenses to overtake the basic deduction.

 

They give you the option of a standard deduction or you can itemize. Your medical needs to be over 7.5% over your adjusted gross income.

True. It's a lot lower for NJ though.

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vlad....if you rent also file for the tenant rebate which is part of the nj-1040 and even though its usually difficult to reach the threshold on the federal, usually people can reach it on the NJ for medical expenses. i think it's 2% of your AGI. somewhere in that area. it'll give you a bit more of a deduction on the NJ and decrease your tax by a few dollars.

 

Didn't the do away with the homestead rebate for renters last year?

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