earn about 65K per year. became a widower this year so will file single. have about 20K in medical expenses. Also have a lot I plan on donating to...

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Customer

earn about 65K per year. became a widower this year so will file single. have about 20K in medical expenses. Also have a lot I plan on donating to a charity that belonged to the misses. ? how much in medical expenses and donations do I need before I move from EZ to itemized? I rent- have no assets and about 18K in a 401K. no other dependents or investments.

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Ryan Parker, EA
Tax Preparer

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Posted
Customer

i assume you have my original question. when i file next year i want to know if i should attempt to pay 20K in medical expenses and donate to charity and itemize- or focus on my daily expenses because EZ filing would be best for me

Posted
Ryan Parker, EA
Tax Preparer

Hi Brian, 

f your spouse died during the year, you are considered married for the whole year for filing status purposes.

  If you didn't remarry before the end of the tax year, you can file a joint return for yourself and your deceased spouse. For the next 2 years, you may be entitled to the special benefits described later under Qualifying Widow(er) With Dependent Child .

With that said you should use this link below including her income to determine what your tax return will look like. 

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

 

Posted
Customer

ok , great. so my question is i have 20 k in uncovered medical expenses. do i focus on paying as much as i can this year for tax purposes and donate her belongings to charity considering my income to optimize my IRS commitments or not. ez verse itemize

Posted
Ryan Parker, EA
Tax Preparer

Hi Brian if your only goal is to maximize potential tax deductions then those deductions would likely be better during the 2017 tax year since your AGI and standard deduction will likely be lower

Posted

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