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posted Jun 3, 2019 1:30:36 PM

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

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?

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1 Best answer
Expert Alumni
Jun 3, 2019 1:30:37 PM

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.

1 Replies
Expert Alumni
Jun 3, 2019 1:30:37 PM

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.