Medical expense deduction

[J_Robles]

Expenses for fertility treatment for $69,500.  Are prescription expenses of $18,765 too high to enter under "..any prescription medications expenses"?  Or should they be entered under "...any other medical expenses.." to describe the type of medications?

[xmasbaby0 · Accepted solution]

When you enter medical expenses in TurboTax, it asks you a whole lot of questions to help you include everything that can be entered.  Really what matters in the end is the total of all of it; that is what will go on your tax form, so don't get too frazzled trying to make sure everything is in the "right" category as long as you enter it all, and do not enter anything twice. 

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 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)

[Anita01]

No, there's no such thing as too high.  You enter what they actually were and what you have receipts to support.