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nlew
New Member

I'm working on the deductions

 
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I'm working on the deductions

https://ttlc.intuit.com/questions/2895072-can-i-deduct-medical-costs-paid-through-my-hsa-or-msa

 

 

MEDICAL EXPENSES

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 2021—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

 

 

2021 STANDARD DEDUCTION AMOUNTS

 

SINGLE $12,550  (65 or older + $1700)

 

MARRIED FILING SEPARATELY $12,550  (65 or older + $1350)

 

MARRIED FILING JOINTLY $25,100  (65 or older + $1350 per spouse)

 

HEAD OF HOUSEHOLD  $18,800  (65 or older +$1700)

 

Legally Blind + $1350

**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.**

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4 Replies

I'm working on the deductions

We cannot see your screen.  Do you have a question?

**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.**
nlew
New Member

I'm working on the deductions

Sorry, I'm not sure why it didn't post the whole question. It was supposed to say:

I'm working on the deductions part. It's asking about how much did I spend on medical expenses. Does this include what I spent on medical expenses from my HSA?

I'm working on the deductions

https://ttlc.intuit.com/questions/2895072-can-i-deduct-medical-costs-paid-through-my-hsa-or-msa

 

 

MEDICAL EXPENSES

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 2021—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

 

 

2021 STANDARD DEDUCTION AMOUNTS

 

SINGLE $12,550  (65 or older + $1700)

 

MARRIED FILING SEPARATELY $12,550  (65 or older + $1350)

 

MARRIED FILING JOINTLY $25,100  (65 or older + $1350 per spouse)

 

HEAD OF HOUSEHOLD  $18,800  (65 or older +$1700)

 

Legally Blind + $1350

**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.**
nlew
New Member

I'm working on the deductions

Thank you for that link! I found the answer. If anyone else sees this thread, here is what the link they posted said:

 

The IRS won't let you deduct medical expenses paid with HSA or MSA funds. Those funds are already tax-free and deducting them as medical expenses would be double-dipping.

When you get to the medical deduction section in TurboTax, enter all your medical expenses, including those you paid from your HSA or MSA. We'll subtract the portion paid from your HSA/MSA (as reported on your 1099-SA form) so you don't deduct them again as medical expenses.

 

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-medical-costs-paid-throug...

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