how much do you have to pay on medical bills to claim them on taxes?
Medical expenses can in most cases be deducted from your income tax as long as the total amount of the expense is greater than 7.5% of adjusted gross income. So, for example, if your adjusted gross income is $100,000 the first $7,500 of medical expense is not deductible. But, it is not as difficult as it once was to exceed 7.5%. Health insurance premiums are much higher now than they were years ago. Most of the time, people don’t know what is deductible. If you paid certain medical and dental expenses this year for yourself, your spouse, or your dependents (and were not reimbursed), you may be eligible to claim the medical and dental expenses deduction. If you itemize deductions on Schedule A, you may be able to deduct the unreimbursed medical care expenses you paid this year. Medical care expenses involve the diagnosis, cure, relief, treatment, or prevention of disease, and treatments affecting any part or function of the body. The medical care expenses must be primarily to alleviate
- I Don’t Have Health Insurance or the Money to Pay for Medical Treatment. Can I Pay My Medical Bills From a Settlement of My Automobile Accident?
- Why are we being asked to give toward new and replacement medical equipment? Don taxes and the government pay for medical equipment?
- how much do you have to pay on medical bills to claim them on taxes?