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Deductions & credits
The amount of medical expenses you enter is not the amount of the deduction you receive. The medical expense deduction has a threshold of 7.5% of your AGI, so if you have income of $100,000 and medical expenses of $12,000, the first $7,500 is not counted towards your itemized deductions. You would only get a deduction of $4,500 for your medical expenses.
Your child tax credit and 1098-T are not part of your itemized expenses. They are credits calculated separately.
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‎April 17, 2023
5:16 PM