Submitted By: R.
Answered: July 30, 2013 8:30 am

I pay my mom’s medical expenses. She’s 83 years old and I’m 60. What percentage of adjusted gross income (AGI) to I apply for itemized deductions?

In 2013, the AGI floor for someone under age 65 is 10% of AGI. The 7.5% floor applies to those 65 or older. Since it is you, and not your mom, who is taking the deduction, you must use the 10%-of-AGI floor.

Tax Glossary

Qualified tuition program (QTP)

A state-sponsored college savings plan or prepayment plan, or a prepayment plan established by a private college.

More terms