Hello.. I do not keep receipts for every time I make a co-pay for appointments or for medications, so how do I know what I need to include on my taxes?

[cjof34]

Does the amount i've spent need to be added on the federal and state return?

[xmasbaby0 · Accepted solution]

If you are going to enter medical expenses you paid out of pocket, you need the amount you actually spent.  Check your bank and credit card records if you have not been saving your records.

The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical (including dental, vision, etc.)  expenses that will count toward itemization is the amount that is OVER 7.5% of your adjusted gross income. You should only enter the amount that you paid in 2018—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.

To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses

2018 Standard Deductions:

Single   $12,000  (+ $1600 65 or older)

Married Filing Separately    $12,000  (+ $1300 65 or older)

Married Filing Jointly  $24,000  (+ $1300 each spouse 65 or older)

Head of Household  $18,000  (+ $1600 65 or older)