What is the status of the Schedule A medical deduction 10% or 7.5% for seniors?

[SweetieJean · Accepted solution]

For 2017, it is now 7.5% for everyone.  However, TT cannot update the program until the IRS updates and approves the revised Schedule A.

[csanandave]

Still not sure if this is the case for TY 2018.

[SweetieJean]

Under the new tax law, it is 7.5% for everyone for the 2017 tax year (filed in 2018) and the 2018 tax year (filed in 2019).

[SweetieJean]

<a rel="nofollow" target="_blank" href="https://khn.org/news/bonus-tucked-into-gop-tax-bill-for-those-aiming-to-deduct-medical-expenses/">ht...>

[macuser_22]

The tax law that affects the medical deduction was just signed into law (makes it 7.5% of AGI for everyone for 2017 and 2018).  The official IRS Schedule A is still the 2016 version.  Until the IRS publishes the 2017 version with the changes and then issues the 2017 e-fileing specifications for Schedule A to tax software companies (like TurboTax) the form cannot be finalized.   Everyone is waiting for the IRS.

[csanandave]

Thanks for a great clarification!

[lrschaefer58]

All the posts above are regarding 2017 and 2018 fiscal years, which ended up at 7.5%.  Meanwhile, TurboTax 2019 is using 10%.  The IRS site has it posted that it will be 7.5% again.  (https://www.irs.gov/taxtopics/tc502)

Will the program be updated?

[DoninGA]

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@lrschaefer58 wrote:

All the posts above are regarding 2017 and 2018 fiscal years, which ended up at 7.5%.  Meanwhile, TurboTax 2019 is using 10%.  The IRS site has it posted that it will be 7.5% again.  (https://www.irs.gov/taxtopics/tc502)

Will the program be updated?

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The Tax Topic on the IRS website has not been updated since August 1, 2019.

For tax year 2019 medical expenses greater than 10% of AGI are deductible.

See IRS Schedule A for 2019 Line 3 - https://www.irs.gov/pub/irs-pdf/f1040sa.pdf