Why are my medical expenses not impacting my deduction when they are over 10% of my income?

Forum|Forum|7 years ago
June 6, 2019
6 replies
46 views

I was on the phone with someone who was not able to answer my questions and I need help. It is saying that because they do not add up to the standard $6350, it does not count. It is close though and over 10% of my income so idk what to do.

TurboTax Free Edition Online

Best answer by SweetieJean

Example: AGI = $50,000

7.5% of AGI = $3,750

Medical Expenses = $6,500

Amount in Excess = $6,500 - 3,750 = $2,750 which is less than the Standard Deduction.

DoninGA

Level 15

Only the amount of your medical expenses that is greater than 7.5% of your AGI can be deducted on Schedule A as an itemized deduction (not 10%). Then your total itemized deductions must be greater than the standard deduction for your filing status to have any tax benefit.
How much is your AGI and how much are your medical expenses?
To view your 2017 AGI - Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary.

SweetieJean

Answer

Alumni - Champ

Example: AGI = $50,000

7.5% of AGI = $3,750

Medical Expenses = $6,500

Amount in Excess = $6,500 - 3,750 = $2,750 which is less than the Standard Deduction.

daniellexdhAuthor

Level 2

Okay I think I am getting it so it is not the actual medical expenses that we are looking at but the amount in excess right? So the Standard Deduction does not seem very standard. It seems like you would need to be drowning in medical expenses to get any deductions from it.