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k
kishan
Feb 14, 2005 - 11:17AM
$3K tax exemption for residents

I am in my second year of residency and someone told me that we can take $3K deduction in our taxes. I am not sure where to find the that language. Can someone elaborate on this?
K

Zip Code: krao_2000@yahoo.com

a
Andrew Schwartz CPA
Feb 15, 2005 - 5:23AM
Re: $3K tax exemption for residents

The Tax Reform Act of 1986 did away with this deduction that allowed for a $300 per month deduction for medical residents.

If you see any information floating around on this tax break, it's outdated and incorrect.

Zip Code: cpa@mdtaxes.com

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