Question

Individuals who itemizes deductions can claim deductions for medical expenses not covered by heath insurance that exceed what % of their adjusted gross income?

Answer 1

Taxpayers can deduct unreimbursed medical expenses exceeding 7.5% of their adjusted gross income if they itemize deductions.

Step-by-step explanation:

Individuals who itemize deductions on their tax returns can claim deductions for medical expenses not covered by health insurance that exceed 7.5% of their adjusted gross income.

This threshold is for the tax years 2022 and possibly the future, but the percentage has varied in previous years. Medical expenses can include payments for the diagnosis, cure, mitigation, treatment, or prevention of disease, and for treatments affecting any part or function of the body.

It's important to note that these deductions do not apply to expenses reimbursed by insurance or other sources.