1/20/2024 0 Comments Deductible medical expenses 2017Can I deduct out of pocket medical expenses? What’s more, you can only deduct the portion of your qualified medical expenses that exceeds the AGI threshold for the tax year. If you take the standard deduction, you won’t be able to take a medical expense deduction. You might be interested: How Much Is Self Employment Tax In Texas? (TOP 5 Tips) Can you deduct medical expenses if you take the standard deduction? So if your adjusted gross income is $40,000, anything beyond the first $3,000 of medical bills - or 7.5% of your AGI - could be deductible. Is it worth claiming medical expenses on taxes?įor tax returns filed in 2022, taxpayers can deduct qualified, unreimbursed medical expenses that are more than 7.5% of their 2021 adjusted gross income.
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