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Money and Finances
Reply to "Bank statements sufficient?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]What are you trying to accomplish? If you are trying to deduct business expenses, for example, you would need receipts.[/quote] It's mostly for medical payments/bills[/quote] Make sure you look at the hurdle for medical expenses before you bother to gather everything. You can only deduct medical expenses if they exceed 10% of your AGI, which is a pretty high hurdle for almost anyone with medical insurance other than senior citizens with low income/high medical expenses. If you were uninsured in 2013 I suppose you might qualify, although hopefully you've got insurance now. Even with a high deductible ($5200 for family) we don't come close to hitting the 10% AGI threshold.[/quote]
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