A bill to amend the Internal Revenue Code of 1954 to allow to a taxpayer who has attained the age of 65 a carryback or carryover for certain medical expenses which do not result in a reduction of taxes.

States that the amount of the tax deduction for specified medical expenses, under the Internal Revenue Code, shall be increased by an amount equal to the medical expense carryovers and carrybacks to such year for persons 65 or over.

Allows the excess medical expense for any taxable year to be a medical expense carryback to the 5 preceding taxable years and a carryover to the 5 succeeding taxable years.

States that no portion of the excess medical expenses attributable to a taxable year preceding a taxable year in which the taxpayer's tax is determined with regard to the standard deduction may be carried to any suceeding taxable year.