Should I deduct medical expenses if I had a procedure that cost $1000 out of pocket, Paid $130 a month for medical benefits, and about $150 for dental? Should use $2400?

[AnnetteB6]

You should enter your medical expenses into your return.  The question about whether you should (or can) deduct them depends on your total income and other itemized deductions you may have (such as mortgage interest, property taxes, or charitable donations).

TurboTax will do the math and let you know if your standard deduction or itemized deductions (including your medical expenses) is better for your tax situation.

[xmasbaby0]

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 2023—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

2023 STANDARD DEDUCTION AMOUNTS

SINGLE $13,850  (65 or older/legally blind + $1850)

MARRIED FILING SEPARATELY $13,850  (65 or older/legally blind + $1500)

MARRIED FILING JOINTLY $27,700  (65+/legally blind) )  + $1500 per spouse

HEAD OF HOUSEHOLD  $20,800 (65 or older/blind)  + $1850)