Weight-loss programs for a disease diagnosed by a physician.Smoking-cessation programs and prescription drugs that help with nicotine withdrawal.Breast pump and other breastfeeding-related supplies, not including bottles.Reproductive health: Abortions, birth control and fertility treatments.Inpatient treatment for alcohol or drug addiction.In-home nursing care and inpatient hospital care.Insurance premiums for health or long-term care coverage for itemizers on Schedule A.Payments you’ve made to doctors, surgeons, dentists, chiropractors, psychiatrists, psychologists and some other nontraditional medical practitioners.Dependents can include children and other relatives you care for. Remember that you can only claim medical expenses that you paid for this year only, whether it’s for you, your spouse or another dependent. Many medical-related costs can be included in your itemized deductions. The standard deduction may be easier, but if you paid a lot of healthcare expenses or have other deductible expenses, they could help you reduce your tax bill. If the value of your total itemized deductions would exceed your standard deduction, you’ll need to complete a Form 1040 and detail every deduction in an itemized list. ![]() Married filing jointly or qualifying widow(er) - $25,100. ![]() Single or married filing separately - $12,550 ($14,250 if they’re at least 65).The Tax Cuts and Jobs Act effectively doubled the standard deduction, which makes it less likely that you’ll wind up itemizing. For the tax year 2021, which you’ll file in 2022, the standard deduction limits are as follows: Itemizing deductions only makes sense if the total deductions you qualify for would exceed your standard deduction – a fixed dollar amount that reduces the amount of money you’re taxed on. Note, however, that you’ll need to itemize deductions to deduct medical expenses. If your total medical expenses are $6,000, you can deduct $2,250 of it on your taxes. You can get your deduction by taking your AGI and multiplying it by 7.5%. This threshold was originally scheduled to go up to 10% of AGI in 2019, but the 7.5% of AGI has been extended to tax year 2021. ![]() President Trump’s Tax Cuts and Jobs Act allowed taxpayers in 20 to deduct the total amount of medical expenses that exceed 7.5% of their adjusted gross income (AGI). Calculating Your Medical Expense Deduction These expenses include payments to doctors and other medical practitioners, prescriptions and insulin, X-rays and laboratory tests, eyeglasses and contact lenses, and nursing help and hospital care, among others. The IRS defines medical expenses as the “costs of diagnosis, cure, mitigations, treatment, or prevention” of an injury or disease.
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