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judy-grey
New Member

Per the IRS site, "you can deduct ...the amount of your medical and dental expenses that is more than 7.5% of your AGI. ". Turbotax software uses 10%. Which is correct?

This is for 2019 which I have just installed and run.
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Accepted Solutions
DoninGA
Level 15

Per the IRS site, "you can deduct ...the amount of your medical and dental expenses that is more than 7.5% of your AGI. ". Turbotax software uses 10%. Which is correct?

The roll-back to 7.5% of AGI for the medical expense deduction from 10% will be on the Schedule A when it becomes available for filing.  Estimated date of 01/15/2020, subject to change

 

https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

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5 Replies
DoninGA
Level 15

Per the IRS site, "you can deduct ...the amount of your medical and dental expenses that is more than 7.5% of your AGI. ". Turbotax software uses 10%. Which is correct?

The roll-back to 7.5% of AGI for the medical expense deduction from 10% will be on the Schedule A when it becomes available for filing.  Estimated date of 01/15/2020, subject to change

 

https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

View solution in original post

rjs
Level 15
Level 15

Per the IRS site, "you can deduct ...the amount of your medical and dental expenses that is more than 7.5% of your AGI. ". Turbotax software uses 10%. Which is correct?

The percentage for 2019 was reduced to 7.5% by a new law that was just passed a couple of weeks ago. The software doesn't get updated the instant that a new law is passed. The new law makes hundreds of changes. It's not just the medical expense deduction. The IRS has not yet updated their forms and instructions. TurboTax has to wait until the IRS does that, then make all the changes in the software, test them, and get IRS approval for the updates.


It's not clear whether the page that you saw on the IRS web site has been updated to reflect the changes in the new law, or whether it's just left over from last year. The percentage for 2018 was 7.5%.

 

judy-grey
New Member

Per the IRS site, "you can deduct ...the amount of your medical and dental expenses that is more than 7.5% of your AGI. ". Turbotax software uses 10%. Which is correct?

Thanks.

curtturbo
Level 1

Per the IRS site, "you can deduct ...the amount of your medical and dental expenses that is more than 7.5% of your AGI. ". Turbotax software uses 10%. Which is correct?

Ok...one more time to make sure I got this right.  On Schedule A the Federal medical expense is more than 7. 5  of your AGI not 10%?  On my Virginia Schedule A they are using 10% as the threshold. I wonder if they will change it back to 7.5%

JohnB5677
Employee Tax Expert

Per the IRS site, "you can deduct ...the amount of your medical and dental expenses that is more than 7.5% of your AGI. ". Turbotax software uses 10%. Which is correct?

To your first question.

 

Yes, the medical and dental expense deduction for the federal government has been reduced from 10% of AGI to 7.5% of AGI.  TurboTax does properly calculate the 7.5%..

 

Second,

 

Virginia has broken with the Federal standard and still maintains the 10% of AGI limitation.

 

Please see the 6th section down  Virginia Medical Deduction

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