For tax returns filed in 2021, taxpayers can deduct qualified, unreimbursed medical expenses that are more than 7.5% of their 2020 adjusted gross income. So if your adjusted gross income is $40,000, anything beyond the first $3,000 of medical bills — or 7.5% of your AGI — could be deductible.Read More →
You may deduct only the amount of your total medical expenses that exceed 7.5% of your adjusted gross income. You figure the amount you’re allowed to deduct on Schedule A (Form 1040). What line on 1040 is for medical expenses? Medical Expense Deduction On Form 1040, medical and dental expensesRead More →
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). If you elect to itemize, you must use IRS Form 1040 to file your taxes and attach Schedule A. What medical expenses areRead More →