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Submitted 353 days ago...

billsbus

billsbus

New User (5)

Medical costs

I am retired and will soon receive a 1099R form. Will I be able to claim medical expenses, dr. visits, and costs of medicine and diabetic testing supplies.

 
Answer
 

Submitted 353 days ago...

gmc

gmc

Beginner (19)

Medical expenses in EXCESS of 7.5% of your adjusted gross income are deductible. So, if your income is $10,000, you can deduct medical expenses that exceed $750. But you must itemize dedcutions as they are reported on Schedule A- Itemized Deductions. Additionally, you cannot deduct expenses that were reimbursed by insurance.

 

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