i want to claim my medical , but was told it has to be a certain %of my income? what %?

Answer 1

You can take a deduction for medical expenses which exceed 7.5% of your gross income.

Example: Your gross income for the year was $10,000. Your medical expenses were $900. You can take a deduction for $150 of the medical expenses. 7.5% of gross income is $750. $900 in expenses less $750 = $150

Answer 2

You can only claim the medical expenses that are over 7.5% of your income. So if your income was $20,000 and your medical expenses were $2000, you'd have to subtract 7.5% of $20,000, or $1500, from your expenses, and could only deduct $500. If your income was $20,000 and your medical expenses were less than $1500, you couldn't deduct any of them.

Answer 3

You can deduct the amount above and beyond the 7.5% of you AGI, but you also need to qualify to itemize your deductions. If you are filing as Single the standard deduction is $5,150, head of household is roughly 7,000 and married filing joint is 10,300 (i believe). If you dont have more than the standard amount you shoudlnt Itemize, its more tax wise if you choose the higher amount whether it be the itemized or standard. If you go to www.irs.gov and look up the instructions for Schedule A, it should answer your questions.

Answer 4

7.5%