Skip to content
Home » Valentine's Day » IRS: How much can you deduct for medical expenses?

IRS: How much can you deduct for medical expenses?

The IRS allows you to deduct medical expenses.

medical expenses

But how much can you deduct and what is included?

DiSanto Propane (Billboard)

Can your 401k plan get you a tax break?

What can be deducted?

The IRS allows you to deduct medical expenses if they have not been reimbursed. Typically, you cannot claim more than 10% of your Adjusted Gross Income(AGI). Read more about it here.

If you or a dependent has been in the hospital or had any pricey procedures, be sure to keep the receipts.

If you qualify and have unreimbursed medical expenses over 7.5% of your AGI from 2021, they can be deducted on your 2021 tax returns.

The threshold was previously 10% but was dropped to 7.5% in 2019.

Some expenses that you can deduct include:

  • doctors, dentists, surgeons, chiropractors, psychiatrists, psychologists
  • hospital or nursing home care
  • acupuncture
  • programs to help people overcome addictions, such as quitting smoking
  • weight-loss programs for diseases diagnosed by a doctor, such as obesity
  • prescription drugs and insulin
  • admission and transportation to medical conferences relating to diseases that you, your spouse, or your dependents have
  • dentures, reading glasses, contacts, hearing aids, crutches, wheelchairs, and service animals
  • transportation to and from appointments

Can you use food stamps at restaurants? Maybe, if you are in Missouri

Categories: News