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Deductions & credits
The medical deduction goes along with mortgage interest, state, local and property taxes and charity to create your itemized deductions. If your itemized deductions are less than your standard deduction, you will not see a difference. You can learn more at About Schedule A (Form 1040), Itemized Deductions.
The standard deduction is so high now that 95% of people are taking the standard deduction.
- Single $12,200
- HOH, $18,350
- MFJ $24,400.
You may not see your medical expenses count. In which case, it would be just about paying back the excess.
The program is designed to carry your 1095A entries to the medical deductions area. I just double checked the program, it does indeed carry from your 1095A entries to the medical itemized deductions.
Remember also, that only the medical expenses over the first 7.5% of your income will count. Again, see the link above regarding medical and other itemized deductions.
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