Can I deduct medical expenses if I pay out of pocket?

If the medical bills you pay out of pocket in a year exceed 7.5 percent of your adjusted gross income (AGI), you may deduct only the amount of your medical expenses that exceed 7.5 percent of your AGI from your taxes. You also must itemize your deductions to deduct your medical expenses.

Does the medical expense deduction cover out-of-pocket expenses?

The medical expense deduction covers a wide variety of expenses. However, because of the high standard deduction and the 7.5% of AGI threshold requirement, it can be difficult to benefit unless you have a lot of out-of-pocket costs.

Are medical expenses tax deductible?

Your medical expenses may be tax-deductible under certain circumstances. If the medical bills you pay out of pocket in a year exceed 7.5 percent of your adjusted gross income (AGI), you may deduct only the amount of your medical expenses that exceed 7.5 percent of your AGI from your taxes.

How do I deduct unreimbursed medical expenses?

To accomplish this, your deductions must be from a list approved by the Internal Revenue Service, and you must itemize your deductions. • You can only deduct unreimbursed medical expenses that exceed 7.5% of your adjusted gross income (AGI), found on line 11 of your 2023 Form 1040.