Tax Deductible Medical Expenses

by Kim Clark and Joy Taylor
From Kiplinger’s Personal Finance
Question: What clinical expenses qualify for a tax deduction?
Answer: Those who itemize their conclusions on Schedule A may be able to claim medical bills that their spouses, relatives, and self-reimbursements have not been covered by insurance. The expense must be mainly used to reduce or stop a physical or mental illness or disability.
But there is a surface. Only medical expenses that total more than 7 % of your adjusted gross income ( AGI ) are deductible. For example, if you itemize, your AGI is$ 100, 000 and your total medical expenses are$ 9, 000, you can deduct only$ 1, 500 of medical expenses on Schedule A ($ 9, 000–$ 7, 500 )….

Source credit