New Mexico Medical Expense Tax Deduction Not Ending

UPDATE, 6/24/15: Included in the tax package that Gov. Susana Martinez signed into law in mid-June was the state income tax deduction of up to 25 percent on out-of-pocket medical expenses.

For a brief period, it looked like this deduction, which allows taxpayers to deduct a percentage of unreimbursed medical expenses based on filing status and adjusted gross income, would no longer be available for the next tax filing season in 2016. Recent legislation has extended the deduction.

For more information, visit the department’s website: tax.newmexico.gov.