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legaleagle, Attorney
Category: Tax
Satisfied Customers: 13441
Experience:  Completed Fed Income Tax in law school, 10 years preparing personally tax returns
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What is the % of medical bills vs. income before they are

Resolved Question:

What is the % of medical bills vs. income before they are tax deductible on my 2011 1040
Submitted: 5 years ago.
Category: Tax
Expert:  legaleagle replied 5 years ago.

You take the number on Line 38 of your 1040 and figure out what 7.5% of that income is. If you paid more than that amount in medical or dental expenses, you can deduct the amount over the 7.5% as a deduction.

Ex. Income on line 38 is $50,000. 7.5% is $3750. If your medical expenses are $5000 then you can deduct $1250.

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