![]() ![]() Trustpilot: Learn more about TaxSlayer’s TrustScore and how customers rate TaxSlayer /review/taxslayer. Actual prices are determined at the time of print or e-file and are subject to change without notice.Īverage federal refund: According to the IRS the average refund was $3,536 as of. Simply Free ($0 federal for simple tax returns and $0 state) is only available for those with a qualifying tax situation offer may change or end at any time without notice. Start for free: TaxSlayer pricing is based on your tax situation and the type of support you want and varies by product. What kinds of medical and dental expenses can or cannot be deducted?.Medical and Dental Expenses – enter the total expenses here and the program will calculate the expenses allowed, based off of your AGI threshold.This amount, $5,000 is the amount over the 10% of your adjusted gross income ($15,000 minus $10,000). Therefore, you could claim $5,000 of the $15,000 medical and dental expenses. Only the amount over 10% of your adjusted gross income, $10,000 will be used for this credit. Your medical and dental expenses total $15,000. You can deduct only the part of your medical and dental expenses that exceeds 10% of the amount of your adjusted gross income (AGI).Įxample: Your adjusted gross income is $100,000. You can deduct only the part of your medical and dental expenses that exceed 7.5% of the amount of your adjusted gross income (AGI) as an itemized deduction. You can deduct only the amount of your medical and dental expenses that is more than 7.5% of your AGI if you are itemizing our deductions. ![]() So if your adjusted gross income is $40,000, anything beyond the first $3,000 of medical bills - or 7.5% of your AGI - could be deductible. For tax returns filed in 2023, taxpayers can deduct qualified, unreimbursed medical expenses that are more than 7.5% of their 2022 adjusted gross income. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |