State medical tax break a mistake, being taken away

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Taxes-Health Overhaul_82846

This Aug. 21, 2014 file photo shows health care tax forms 8962, 1095-A, and 8965, in Washington. Being uninsured in America will cost you more in 2015. In 2015, all taxpayers have to report to the Internal Revenue Service for the first time whether or not they had health insurance the previous year. Most will […]

ALBUQUERQUE (AP) – New Mexicans will no longer be able to deduct a portion of their medical expenses from their taxes, even though many residents have been doing so for years.

The Albuquerque Journal reports the tax break has been granted to as many as 300,000 state taxpayers for 14 years.

A law creating the deduction passed in 2000, but its enactment was tied to the passage of other Medicaid-related measures that former Gov. Gary Johnson vetoed.

The state Compilation Commission caught the mistake last summer and went forward with removing the law from the state’s books.

A representative from the commission says it wasn’t clear why the error hadn’t been discovered sooner.

A spokesman for The Taxation and Revenue department says keeping the medical tax deduction in place has become a top priority.

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