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I am assuming you have 200,000 dollars still in your 401K. If you have already drawn 50,000 dollars from your 401K this year, let me know.
You can take as much from your 401k as you need, because you are 61 you don't have to worry about withdrawal limits or penalties.
However, medical expense deductions
are limited to expenses beyond 7.5% of adjusted gross income
(AGI). So, if your AGI is 50,000 dollars from 401k withdrawals, you will be able to deduct 24,750 dollars of the 28,500 dollars of your medical expenses
. As your AGI increases, you will be able to deduct less of your medical expense. Unfortunately, medical expenses are not the most beneficial deductions.
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