2006-10-09 16:36:59 · 5 answers · asked by Julie 1 in Business & Finance ➔ Taxes ➔ United States
Your medical deductions must be at least 7.5% of your adjusted gross income for you to be able to itemize them. There is no maximum.
2006-10-09 16:40:07 · answer #1 · answered by Bad Kitty! 7 · 2⤊ 0⤋
You only can claim medical expenses if you itemize your deductions on Schedule A. In that case they will be reduced by that amount equal to 7.5% of your AGI. After that there will be no limit.
2006-10-09 23:44:30 · answer #2 · answered by ? 6 · 2⤊ 0⤋
There is no maximum. If you income exceeds a certain level, ALL itemized deductions are phased out. I don't have time to look that up on www.IRS.gov right now.
2006-10-10 08:55:14 · answer #3 · answered by STEVEN F 7 · 0⤊ 1⤋
your medical expenses have to total 7.5% of your AGI before you can start to deduct them, and the total should be more than your standard deduction amount or it isn't worth it.
2006-10-09 23:41:17 · answer #4 · answered by Brian's Girl 1 · 2⤊ 0⤋
Not a maximum. It is all deductible when you itemize.
2006-10-09 23:38:14 · answer #5 · answered by Blunt Honesty 7 · 0⤊ 1⤋