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Subject:  Re: Portfolio for monthly income Date:  1/6/2022  11:23 AM
Author:  vkg Number:  1944 of 1972

I suspect the IRS has a similar view of long term care. They want you to stay at the YMCA and ride a bicycle.

We haven't dealt with lodging for medical care. The IRS enforces tax laws and doesn't make them.

We have dealt with long term care. Long term care was included in medical deduction which means the deduction is reduced by 7.5% of income. The rest is a schedule A deduction. For my mother-in-law, it meant she didn't pay income taxes for the last years of her life.

The larger standard deduction is not permanent. It is set to expire at the end of 2024. It isn't a coincidence that it expires after the current presidential term. Standard politics.
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