Tax Deduction Changes for Abortion Costs: New Rules.
This bill changes the rules for deducting abortion costs from taxes. Under the new provisions, expenses for abortions will no longer be deductible as medical expenses, except in cases of life-threatening conditions for the woman or pregnancies resulting from rape or incest. These changes will affect the personal finances of individuals incurring such costs, limiting their ability to claim tax relief.
Key points
Abortion costs will no longer qualify for tax deductions as medical expenses.
Exceptions apply for abortions necessary to save a woman's life or resulting from rape/incest.
These changes will take effect for tax years beginning after the act's enactment date, impacting future tax filings.
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