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11 January, 05:04

If someone pays medical expenses directly to the provider, such as a doctor or hospital, what percentage of the gift is exempt from gift tax?

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  1. 11 January, 06:00
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    The IRS allows deductions of appropriate and approved medical expenses that exceed 10% of your income. The income is reflective of adjustments made such as deductions, contributions to IRA, and interest from a student loan. Therefore the taxable income is income minus adjustments.
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