03-07-2021, 01:24 PM
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#37
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Senior Member
Join Date: Jun 2016
Location: Tuftonboro and Sudbury, MA
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Quote:
Originally Posted by Descant
The increased standard deduction is fine, but I still have to keep track of all eligible expenses, medical deducible, co-pays, etc. which may approach the limit and need to be tracked for the years when we do go over. If you stop tracking these records and then have, say, an un-reimbursed casualty loss, you need all the records. The system needs further simplification, but, at least in 2017, we started heading in the right direction. I hope it continues.
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Or...you could decide that your chance of going over is reasonably small, pay for all these items with a credit card, then do the tracking at year end only if you need
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