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Turbo tax states we need $8469 in medical expenses. We have…

Turbo tax states we need...
Turbo tax states we need $8469 in medical expenses. We have $10736.00 in medical expenses. Turbo Tax states we do not qualify, why?
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Answered in 19 minutes by:
4/3/2017
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 31,243
Experience: Taxes, Immigration, Labor Relations
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Can you verify - for which purpose you need medical expenses and

for which tax benefit are you looking to qualify?

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Customer reply replied 10 months ago
We need the medical expenses for itemized deductions to lower our income tax amount

To be considered for itemized deduction - your medical expenses must be more than 10% of your adjusted gross income (AGI)

That amount is reported on form 1040 line 37 - please verify.

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Customer reply replied 10 months ago
We are over 65; therefore, it is only 7.5% & we have entered the data in turbo tax under Medical Expenses. We have not finished but we are over what turbo tax said we needed by $2267.00. AND turbo tax said we do not qualify for medical expenses. Why

Your adjusted gross income (AGI) is reported on form 1040 line 37 - can you please verify that amount.

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Customer reply replied 10 months ago
We have verified it & still over on medical expenses by couple hundred dollars & have not finished entering as of yet
Customer reply replied 10 months ago
I made a mistake; 7.5% is $8468.93 & we have itemized $10736.00 thus far

Ok - then - can you verify amount of medical expenses reported on schedule A line 1 - ?

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Customer reply replied 10 months ago
It is only showing $8218 on line 1; but on turbo tax it shows $10736 on the Medical in Deductions & Credits. Does turbo tax ask for information (items we entered) that is not counted for our deductions. Why are some of the items that we entered under Medical In Deduction & Credits not counted

First of all we need to verify which items are not taxable.

$10736 - $8218 = $2518 - can you verify what that amount represents?

and verify what exactly you entered?

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Customer reply replied 10 months ago
why does turbo tax not not includes everything that we have entered as medical expenses. we have entered $10,736 of expenses, but turbo tax is only using $8,218.

Most likely - you entered not everything correctly....

However to verify what exactly is teh issue - we need to know which exact item has an issue.

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Customer reply replied 10 months ago
We do not know! Nothing adds up to the $8,218. The largest two amounts add up to more and if I add the smaller amounts plus the largest it does not add up. I am at a loss.
Customer reply replied 10 months ago
prescriptions $2,018, professional fee $6,518, facility fees $566, lab fees $158, eyeware expense $80, supplies expense $37, Travel expense lodging(parking and food) $398, travel miles 5,058 miles

Based on your information $2518 that is the difference.

If you are not able to identify that amount.

The only option - to go one by one - remove and add it back - and see how it is counted.

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Customer reply replied 10 months ago
Just the prescriptions $2,018 and professional fees $6,518 add up to more than the $8,218.
Customer reply replied 10 months ago
Thanks for your time. I don't think it helped.

So - if you have ONE line for prescriptions - delete it - and verify if if the total amount on line 1 is reduced by $2018 - if yes - that is reported correctly - so add it back.

Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 31,243
Experience: Taxes, Immigration, Labor Relations
Verified
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