2017 deductible medical expenses schedule a

Married filing jointly or qualifying widow(er) - $27,700.Single or married filing separately - $13,850 ($15,350 if they’re at least 65).The Tax Cuts and Jobs Act effectively doubled the standard deduction, which makes it less likely that you’ll wind up itemizing. For the tax year 2022, which you’ll file in 2023, the standard deduction limits are as follows: Itemizing deductions only makes sense if the total deductions you qualify for would exceed your standard deduction – a fixed dollar amount that reduces the amount of money you’re taxed on. Note, however, that you’ll need to itemize deductions to deduct medical expenses. If your total medical expenses are $6,000, you can deduct $2,250 of it on your taxes. You can get your deduction by taking your AGI and multiplying it by 7.5%. This threshold was originally scheduled to go up to 10% of AGI in 2019, but the 7.5% of AGI was extended to tax year 2021. The Consolidated Appropriations Act of 2021 made the 7.5% threshold permanent. President Trump’s Tax Cuts and Jobs Act allowed taxpayers in 20 to deduct the total amount of medical expenses that exceed 7.5% of their adjusted gross income (AGI). Calculating Your Medical Expense Deduction

These expenses include payments to doctors and other medical practitioners, prescriptions and insulin, X-rays and laboratory tests, eyeglasses and contact lenses, and nursing help and hospital care, among others.

The IRS defines medical expenses as the “costs of diagnosis, cure, mitigations, treatment, or prevention” of an injury or disease.

2017 deductible medical expenses schedule a