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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7147
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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How much medical bills can be deducted

Customer Question

How much medical bills can be deducted
Submitted: 1 year ago.
Category: Tax
Expert:  Stephen G. replied 1 year ago.
For 2015, you can deduct all your medical bills, medical insurance, prescriptions & any other medical expensesif you itemize deductions, but the total must be reduced by 10% of your adjusted gross income if you are under age 65 and by 7 1/2% of your adjusted gross income if you are age 65 or over.
Expert:  Stephen G. replied 1 year ago.
Note: The 65 or over rate applies if either you or your spouse is 65 or over.The 7 1/2 rate for the 65 or over taxpayers expires at the end of 2016 at which time the rate changes to 10% for everyone.
Expert:  Stephen G. replied 1 year ago.
If you have any follow-up questions, I'd be happy to answer them.If not, please remember to rate my response as that is the only way we receive credit for our work.Thanks very much,Steve G.