Medical expense tax isn’t just limited to yourself. If any of your family members or dependents are going through medical procedures with exorbitant costs, you can claim that money. You will be able to revive qualified medical expenses that cross more than 7.5% of your gross income.

These expenses include hospital visits, injury, health and dental premium insurance, recovery from a grave illness, wheelchairs, crutches, glasses, and contact lenses. The money you spend on all these is tax-deductible to a certain extent. Now, let’s take a look at how this works and how you can claim some of your money back. 

What is the medical expense deduction? 

When you are filing tax returns this year, you have a chance to receive some of the money back. There’s a catch here though. You can get the qualified, unreimbursed medical expenses but they have to be more than 7.5% of your last year’s adjusted gross income.

For example, say your adjusted gross income is $80,000. If your medical expenses have exceeded more than $6,000 or 7.5% of your AGI, then you are qualified for a reimbursement. Let’s say you’ve spent $20,000 on medical expenses like medicines and dentures or healing a fracture wound. Out of the $20,000, you will be reimbursed with $17,000. 

What kind of medical expenses are tax deductible?

Other rules for medical expense deduction 

What can’t be deducted? 

How to claim the medical expense deduction 

Filing medical tax returns is a time-consuming task. You have to take into account both standard deductions (the fixed amount you have to pay or taxes) and itemized deductions (the AGI amount here differs from person to person).

If your standard deduction is more than your itemized deductions, then you can opt for the former and save a lot of tax prep time. Here are some things you need to keep in mind while claiming your medical expense deduction:

If you want to know all the exclusive details about medical tax expense deductions, then you can check the IRS Publication 502 official site.