Stock Market losses of over $3000 can be carried forward to another year. What about Huge medical expenses.?

Answer 1

No, medical expenses cannot be carried over to another year. Medical expenses are deducted the year you paid them (not in the year incurred). So, unless you used savings to pay a current medical bill, you medical expenses should not generall exceed income. If the expenses do exceed your total AGI (Adjusted Gross Income), you should pay it on an extended plan. Best wishes.

Answer 2

Medical expenses you paid can reduce your taxable income to zero. If the medical expenses are so large that the medical deduction is greater than you adjusted growth income, it is unlikely that you actually paid all of that in one year. If you did, you get no additional tax benefit.

You can "carry forward" your medical deductions by paying them over more than one year.