medical deductions for income taxes in 2018
I had heard when the new tax laws went into place that the medical deductions were eliminated. I have now heard recently that medical expenses can still be deducted for 2018. What is correct? Thank you.
Terry Says
According to TurboTax, The IRS allows you to deduct qualified medical expenses that exceed 7.5% of your adjusted gross income for 2017 and 2018. Beginning Jan. 1, 2019, all taxpayers may deduct only the amount of the total unreimbursed allowable medical care expenses for the year that exceeds 10% of their adjusted gross income.
