• In 2022, the IRS allows all taxpayers to deduct their qualified unreimbursed medical care expenses that exceed 7.5% of their adjusted gross income.
• You must itemize your deductions on IRS Schedule A in order to deduct your medical expenses instead of taking the standard deduction.
• The IRS allows you to deduct unreimbursed payments for preventative care, treatment, surgeries, dental and vision care, visits to psychologists and psychiatrists, prescription medications, appliances such as glasses, contacts, false teeth and hearing aids, and expenses that you pay to travel for qualified medical care.
• At this time, all unreimbursed medical expenses incurred as a result of COVID-19 are tax deductible.
• If you pay for your medical expenses using money from a flexible spending account or health savings account, those expenses aren't deductible because the money in those accounts is already tax-advantaged.
Your adjusted gross income (AGI) is your total income subject to tax from your tax return minus any adjustments to income, such as contributions to a traditional IRA and deductible student loan interest.
TurboTax Tip: Normally, you should only claim the medical expenses deduction if your itemized deductions are greater than your standard deduction (TurboTax can also do this calculation for you).
When you file your tax return, you typically have the choice between claiming the standard deduction or your itemized deductions. Usually you would select the one that gives you the largest deduction. If your itemized deductions are less than the standard deduction you usually won't itemize, which means you won't receive medical expense deductions.
Click here for more detailed information regarding deducting medical expenses.
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