Extraordinary Expenses: General vs. Special
Extraordinary expenses are costs that inevitably arise and significantly impair one’s financial capacity. The difference between general and special extraordinary expenses lies in their tax deductibility and the amount recognized.
Differences: They vary in how they are treated for tax purposes.
General extraordinary expenses:
Deductible once the individual’s reasonable burden threshold is exceeded.
Then deductible without any upper limit.
Special extraordinary expenses:
Can be claimed from the very first cent.
However, a maximum limit applies.
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