- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Why aren't my medical expenses deducting? They are greater then the required amount. Thank you.
Topics:
June 6, 2019
12:26 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Generally, if you are not seeing a deduction for the medical expenses you are entering it is for one of the following reasons:
- Only the amount above 7.5% of your AGI is deductible. So if you enter $10,000 in medical expenses, and your income is $100,000, only $2,500 of your medical expenses will be added to your itemized deduction.
- Your total itemized expenses (including your medical) have not exceeded your standard deduction. The standard deductions are based on your filing status and are as follows
- Single or Married Filing Separately $6,350
- Married Filing Jointly $12,700
- Head of Household $9,350
- Your AMT is offsetting your Itemized deductions causing you to not receive a benefit from your increasing itemized expenses. You can check this on line 45 of your 1040.
- Your taxable income is already at $0. If it is already at $0 additional itemized expenses will not lower it further and will not help you tax wise. You can check this on line 43 of your 1040.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
June 6, 2019
12:26 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Itemized deductions also phase out at high income levels.
June 6, 2019
12:26 PM