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Deductions & credits
I'm afraid it might fall under the 7.5% rule for medical expenses
Most likely it does. The only time I've seen anyone able to actually deduct medical expenses as an itemized item on their personal tax return, is if they have "MAJOR" out-of-pocket medical expenses not covered or paid by insurance. For example, a knee replacement not covered by insurance can easily cost in excess of $15K. With that amount, your income would have to be less than $112,500 for the year and only the amount that "exceeds" 7.5% of your income would be deductible as an itemized deduction.
‎October 21, 2023
10:12 AM