Is there a limit on Medical deductions to be able to Itemize?

sawrnr — Mon, 03 Jun 2019 20:30:36 GMT

According to my calculations we have over $24,000 in deductions with $18000 in Medical alone and Turbo Tax states that my itemized deductions are only $16,000? Is there a limit on Medical Deductions?

You must remember, the deduction is limited to the expens...

AlanT — Mon, 03 Jun 2019 20:30:37 GMT

You must remember, the deduction is limited to the expenses that exceed 7.5% of your adjusted gross income.

For example, if you are 48 years old with an AGI of $50,000 and you incurred $4,750 in medical and dental expenses last year, you could deduct $1,000 (the amount in excess of 7.5% of your AGI, or $3,750), assuming you're itemizing.

topic Is there a limit on Medical deductions to be able to Itemize? in Deductions & credits

Is there a limit on Medical deductions to be able to Itemize?

You must remember, the deduction is limited to the expens...