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I am freelance researcher in the entertainment industry. I

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have no employer paid medical/health...
I am freelance researcher in the entertainment industry. I have no employer paid medical/health insurance. All of my expenses are out of pocket. I have been looking over my 2009 tax return. My adjusted gross income was 85,322 and my medical expenses were 10,298. My itemized deuctions for the year were 42,068 of which the entire 10,298 were a part. Was this done correctly? I am vaguely familiar with the 7.5%. Does this mean I am allowed to deduct the entire amount because the expenses exceeded the 7.5% or only the remaining $ amount. A little confused.
Thanks
Submitted: 7 years ago.Category: Tax
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Answered in 1 minute by:
11/1/2010
Tax Professional: Robin D., Senior Tax Advisor 4 replied 7 years ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,200
Experience: 15years with H & R Block. Divisional leader, Instructor
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Robin D :

Hello

Robin D :

The 7.5% limitation for medical works like this:

Robin D :

Let's say your Adjusted Gross Income was $85322, 7.5% of that is $6399. Any medical over the $6399 would be allowed on your Schedule A for itemizeing of the medical portion.

Robin D :

So if your medical was $6400 then you would get to use $1 for medical.

Robin D :

You would list all the mediacl but only the $1 wouls actually be allowed.

Robin D :

Sorry , spelling of medical

Robin D :

Did that explain the limitation for you?

Customer :

Not really. The 10,298 was listed on schedule A but like I said the entire amount (10,298) was included in my itemized deductions making my taxable income 43,254. Was this done correctly?

Robin D :

How much were your total medical Schedule A Line 1?

Robin D :

If the Line 1 amount was the $10298 then on Line 4 should be the $3899 (the difference in the 7.5% amount of AGI and the total medical).

Customer :

I do not have in my records a copy of the schedule A form itself. I have a paper which is titled "supporting schedules". The next column says Schedule A, then Line 1 then description and then totals for premiums 4600, therapy 4500, and other expenses for the 10298. I then have it done the same way for Line 16 Gifts, Line 17 Gifts and Line 23 Misc. Expense. All these totals are then totaled and listed under itemized deductions on the 1040. Also, although these were real expenses I had no real documentation or receipts to support them but was assured by H&R Block there would be no problem. They signed off on the return. Where am I at?

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 7 years ago

The LIne one for the total on medical is only the amount that was used for then calculating the actual amount that was used on the Schedule A.

The amount that was used for Line 4 (Medical) should have been the difference as I explained before.

What you need to do is request a copy of your Schedule A from the office.

If you are audited the burden of proof for any expenses on your return will ultimately fall on your shoulders. Although H & R Block offers ( I guess they still do) what is called "Peace of Mind" that guarantee only covers if the preparer made a mistake not if the taxpayer does not have the needed documentation for a deduction, so make sure you get your receipts together.

Robin D.
Robin D., Senior Tax Advisor 4
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