Thread: taxes
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Old Apr 13, 2008, 12:23 PM
sidony sidony is offline
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Member Since: Feb 2007
Location: Eastern USA
Posts: 780
Y'know sunrise, you're right. I did get on the insurance website and now I know exactly how much I paid and how much I was reimbursed for. So now here's the question: is this procedure right?

1. I should figure out what 7.5% of my income was for last year.
2. I should add up MY total costs (what insurance didn't pay).
3. I should subtract amount 1 from amount 2.
4. And then, here's the part that confuses me: Should I then subtract the total amount I put into an FSA last year?
5. And then I should see if that amount puts me over the standard deduction or not.

Is that right? The FSA bit is what confuses me. I guess whatever I put into the FSA is already money I haven't been taxed on. And nowhere do I remember my tax software (TurboTax) asking me for that kind of information.

Sunrise, I wouldn't have known about medical expenses either except that TurboTax.com asked me those questions....

Sidony