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New Member
posted Jun 4, 2019 9:38:02 PM

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

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1 Best answer
Level 15
Jun 4, 2019 9:38:03 PM

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.

5 Replies
Level 15
Jun 4, 2019 9:38:03 PM

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.

Level 15
Jun 4, 2019 9:38:06 PM

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

Returning Member
Jun 4, 2019 9:38:09 PM

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

Level 15
Jun 4, 2019 9:38:10 PM

It is not so simple since TT has to wait for the IRS.  It is scheduled to be changed on January 11.

Level 15
Jun 4, 2019 9:38:12 PM

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