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

[sawrnr]

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?

[AlanT · Accepted solution]

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.