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Bubo1
New Member

Did the new tax law lower the percentage of medical deductions required to deduct in 2017?

 
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DoninGA
Level 15

Did the new tax law lower the percentage of medical deductions required to deduct in 2017?

The tax code changed the amount of medical expenses that are deductible to the amount over 7.5% of AGI for 2017 and 2018 only.  The 10% of AGI goes back into effect in tax year 2019 and beyond.

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5 Replies
DoninGA
Level 15

Did the new tax law lower the percentage of medical deductions required to deduct in 2017?

The tax code changed the amount of medical expenses that are deductible to the amount over 7.5% of AGI for 2017 and 2018 only.  The 10% of AGI goes back into effect in tax year 2019 and beyond.

SweetieJean
Level 15

Did the new tax law lower the percentage of medical deductions required to deduct in 2017?

but I don't think TT has yet updated this in the program.
dscafe09
Returning Member

Did the new tax law lower the percentage of medical deductions required to deduct in 2017?

It still isn't updated as of 1/5/18.  Seems pretty simple to change.
xmasbaby0
Level 15

Did the new tax law lower the percentage of medical deductions required to deduct in 2017?

It is not so simple since TT has to wait for the IRS.  It is scheduled to be changed on January 11.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
DoninGA
Level 15

Did the new tax law lower the percentage of medical deductions required to deduct in 2017?

Right.  Even the IRS has not yet released Schedule A for 2017 on their website.

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