American Tax Service

Helping Americans File Their Taxes

By

How to know if Your Medical Expenses are Tax Deductible

Did you spend a ton of money on medical expenses last year? If so, you may qualify for the medical expense tax deduction. This means you must spend more than 10% of your AGI on medical expenses (7.5% if you are older than 65) to qualify.

medical expense tax deductionMedical Expenses You Can and Cannot Deduct

You can deduct medical expenses for your spouse, dependents, and your own expenses that qualify.

You are not able to deduct reimbursed medical expenses. You can only deduct medical expenses that you paid for 100% out of pocket for.… Read the rest

By

How to Determine Which Medical Expenses are Tax Deductible

Even if you have the best insurance plan, you still might end up paying medical bills. However, all hope is not lost. You can still get a tax break from your medical expenses that can help reduce your overall medical costs.

Learn what medical expenses are tax deductible.

In 2018, the IRS allowed you to deduct medical expenses that exceeded 7.5% of your adjusted gross income.

Beginning Jan. 1, 2019, all taxpayers may deduct only the amount of the total unreimbursed allowable medical care expenses for the year that exceeds 10% of their adjusted gross income.… Read the rest