Should the medical out of pocket expenses be included in the itemized deduction?

[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 2024—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

2024 STANDARD DEDUCTION AMOUNTS

SINGLE $14,600    (65 or older/legally blind + $1950)

MARRIED FILING SEPARATELY            $14,600    (65 or older/legally blind + $1550)

MARRIED FILING JOINTLY $29,200    (65 or older/legally blind + $1550)

HEAD OF HOUSEHOLD $21,900    (65 or older/legally blind + $1950)

[LindaS5247]

Yes, you will include your out-of-the-pocket medical expenses in your itemized deductions.

You can deduct unreimbursed expenses for preventative care, treatment, surgeries, and dental and vision care as qualified medical expenses. 

You can also deduct expenses that you were not reimbursed for, such as: psychologists and psychiatrists; unreimbursed payments for prescription medications, and appliances such as glasses, contacts, false teeth and hearing aids are also deductible.

You can deduct qualified unreimbursed medical expenses that exceed 7.5% of your adjusted gross income if you use IRS Schedule A to itemize their deductions.

Click here for additional information on medical expenses that are tax deductible.

Click here for the Ultimate Medical Expense Deductions Check Sheet.