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Standard Dediction for Medical Expenses

If my AGI is $100,000 and my Medical Expenses are $9000+, why does the TurboTax Premier program say "the standard deduction saves you the most on taxes" and give no other option?  I thought medical expenses over 7.5% of AGI is deductible (in my case anything over $7500).  Thanks.

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Standard Dediction for Medical Expenses

That would mean that only $1,500+ of your medical expenses are entered as an itemized deduction.

 

The total of all your itemized deductions on Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.

 

Standard deductions for 2021

Single - $12,550 add $1,700 if age 65 or older
Married Filing Separately - $12,550 add $1,350 if age 65 or older
Married Filing Jointly - $25,100 add $1,350 for each spouse age 65 or older
Head of Household - $18,800 add $1,700 if age 65 or older

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5 Replies

Standard Dediction for Medical Expenses

That would mean that only $1,500+ of your medical expenses are entered as an itemized deduction.

 

The total of all your itemized deductions on Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.

 

Standard deductions for 2021

Single - $12,550 add $1,700 if age 65 or older
Married Filing Separately - $12,550 add $1,350 if age 65 or older
Married Filing Jointly - $25,100 add $1,350 for each spouse age 65 or older
Head of Household - $18,800 add $1,700 if age 65 or older

Standard Dediction for Medical Expenses

Thank you.  Your reply answers my question.

Standard Dediction for Medical Expenses

If I am certain my medical expenses will not be more than 7.50% of AGI, how can I skip filling in the accurate amounts for medical?  Can I just skip it and go on or just make up numbers so I can continue without having to calculate actual expenses

Standard Dediction for Medical Expenses


@2whiteroses wrote:

If I am certain my medical expenses will not be more than 7.50% of AGI, how can I skip filling in the accurate amounts for medical?  Can I just skip it and go on or just make up numbers so I can continue without having to calculate actual expenses


Just skip the medical expenses section.

Standard Dediction for Medical Expenses

It might still help you on your State return, though.

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