I have $5483.00 in medical expenses. I'm wondering if I should go ahead and dp schedule A, long form. Will it make any difference in final outcome?

[BMcCalpin · Accepted solution]

The answer depends on your AGI (adjusted gross income), your age, the amount of other itemized deductions that you might have, and your filing status.

You can deduct only those medical expenses in excess of 7.5% of your AGI.

In addition, if the sum of the itemized deductions (including the deductible medical expenses) is less than the Standard Deduction for your filing status, then it would make no sense to itemize.

However, some states have different (lower) standards for deducting medical expenses; if you are in one of those states, then you should enter the medical expenses in the Schedule A interview anyway, even if you know it won't matter on the federal return.

[Edited 4/2/2020 2:08 pm CDT - updated for 2019]