topic Medical Expense deduction in Deductions & credits

Medical Expense deduction

DWBurge — Sat, 08 Feb 2020 23:35:02 GMT

TurboTax asked if I had medical expenses over a certain amount, which was exactly 7.5% of my AGI. It is my understanding that everyone, regardless of age, has a 10% medical expense floor.

I am only worrying about this as I am on the bubble for taking an itemized deduction.

Re: Medical Expense deduction

DoninGA — Sat, 08 Feb 2020 23:38:04 GMT

The medical expense itemized deduction was changed from 10% of AGI to 7.5% of AGI for tax year 2019 by legislation in Congress that was passed and signed into law in December 2019.

Re: Medical Expense deduction

Texas Roger — Sat, 08 Feb 2020 23:39:51 GMT

A late 2019 tax law changed the threshold for medical expenses from the amount over 10% of AGI to 7.5% of AGI for everyone so 7.5% is the correct threshold.

Re: Medical Expense deduction

DWBurge — Sat, 08 Feb 2020 23:40:23 GMT

Thank you for the quick response. I didn't know that and was referencing this years Lasser's Tax Guide, which appears to be, as of this December, out of date.