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What percent of my income is required in order to deduct medical expenses?

If you itemized, it used to be about 7 1/2 % of your total income was needed before medical expenses could be deducted.
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3 Replies
Heather14
New Member

What percent of my income is required in order to deduct medical expenses?

To claim the medical expenses deduction, you must itemize your deductions. The IRS allows you to deduct qualified medical expenses that exceed 10% of your adjusted gross income for the year. Your adjusted gross income (AGI) is your taxable income minus any adjustments to income such as deductions, contributions to a traditional IRA and student loan interest. You can visit the following TurboTax link for more information on claiming medical expenses on your tax return: TurboTax Medical Expesnes Deductions Information

What percent of my income is required in order to deduct medical expenses?

The IRS website tells me that I can deduct qualified medical expenses that exceed 7.5% of the adjusted gross income for the year.  How can I get the turbo tax program to correct that from 10% to 7.5%?  If that is done, my itemized deductions will be more than the standard deduction.

BillM223
Expert Alumni

What percent of my income is required in order to deduct medical expenses?

The TurboTax programs has used 7.5% ever since this was changed in the Tax Cut and Jobs Act in late 2017. Do you have some reason to think otherwise?

 

Do you have the CD/download software or have you paid for your Online product? If so, then you can go look for the Medical Expenses Worksheet to see what TurboTax did.

 

@justproblems

 

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