topic Tax Year Prior to 2020: Medical Expenses deduction in Deductions & credits

Tax Year Prior to 2020: Medical Expenses deduction

charlieb2 — Tue, 09 May 2023 21:10:10 GMT

I'm just finding out just how messed up TurboTax 2019 is!

Schedule A, in a just updated TT Deluxe 2019 says medical expenses that exceed 7.5% of AGI are deductible.

Current Publication 502 for 2019 says medical expenses that exceed 10% of AGI are deductible.

I checked because I just saw a Dave Ramsey email about tax changes that said that for 2019, the threshold is 10%, NOT 7.5%, as for previous years.

It's January 30! It's ridiculous that by now, Turbotax can't get something like this right.

Re: Medical Expenses deduction

charlieb2 — Thu, 30 Jan 2020 23:49:23 GMT

Does no-one at Turbotax check for tax-las changes??? That should have been done before TT 2019 was released back in December!

Re: Medical Expenses deduction

xmasbaby0 — Thu, 30 Jan 2020 23:50:42 GMT

On December 20, 2019 Congress changed it back to 7.5%.

Re: Medical Expenses deduction

VolvoGirl — Thu, 30 Jan 2020 23:51:53 GMT

The IRS changed it back to 7.5%. I'm looking for a link. Turbo Tax was updated back to 7.5% on Jan 15, 2020.

Re: Medical Expenses deduction

VolvoGirl — Fri, 31 Jan 2020 00:04:27 GMT

Found this......

The floor for Medical deductions went back to 7.5% for everyone on the Consolidated Appropriations Act, 2020 passed on December 19, 2019.

https://storage.pardot.com/339101/115504/Consolidated_Appropriations_Act_2020.pdf

Re: Medical Expenses deduction

VolvoGirl — Fri, 31 Jan 2020 00:34:28 GMT

What current pub 502 did you find? This IRS Publication 502 dated Jan 21, 2020 now says 7.5% on page 2 Introduction 3rd paragraph,

https://www.irs.gov/pub/irs-pdf/p502.pdf

Re: Medical Expenses deduction

charlieb2 — Fri, 31 Jan 2020 05:45:02 GMT

I found a Pub 502 on IRS website that said for 2019, and said 10% threshold on medical expenses. I evidently found the newer one later, because the pdf file I have saved now says 7.5%, as you state.

Re: Medical Expenses deduction

Macoy20748 — Tue, 05 Jan 2021 17:07:58 GMT

For 2020 taxable income, is medical deduction threshold 7.5% or 10% or some other percentage? Is tax program software up to date with IRS on this matter?

Re: Medical Expenses deduction

VolvoGirl — Tue, 05 Jan 2021 17:48:07 GMT

It is staying at 7.5% for everyone, under or over 65.

Re: Medical Expenses deduction

JulieC14 — Tue, 05 Jan 2021 18:25:11 GMT

The medical deduction threshold is 7.5% for 2020. And, yes, the TurboTax software is up to date on this item.

For future questions related to whether TurboTax is up to date on a particular item, you can double check the availability of forms being up to date in TurboTax through this link: IRS Form Availability in TurboTax

If you are using the downloaded version of TurboTax, please make sure to keep your software program up to date.