Comments for Itemized Medical Expenses

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Mar 24, 2011
Percentage of AGI
by: Stephanie

The percentage of adjusted gross income (line 38 of form 1040) that can be deducted is 7.5%. Meaning, anything above the 7.5% can be deducted. An example would be if you had income of 45,000, you could deduct expenses totalling more than 3375 (45000 x .075). So if you had expenses totalling 5000, you could deduct 1625 (5000 - 3375)

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