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Subject:  Deductibility % AGI Question Date:  1/13/2014  8:03 PM
Author:  GWPotter Number:  119836 of 128043

This year we had a burglary. Google brings a result saying such losses are deductible if they meet various conditions including they exceed 10% of AGI.

I have healthcare costs also and they also have the 10% of AGI limitation.

For purposes of understanding, just say the Healthcare costs at 7.5% of AGI and the burglary loss of 7.5% of AGI.

Do I get zero deductions? (neither exceeded the 10% level) or Do I get a 5% deduction since the combined items exceed AGI by 5%?

Finally on the chance one can combine items that must exceed the 10% AGI yes, am I correct in believing all such items can be combined?

Here is hoping I have no such losses in 2014!
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