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June 1, 2019
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Having trouble with donations, i give to good will frequently as well as the dollars to random charities at the store, is this worth filing?

  • June 1, 2019
  • 7 replies
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Best answer by xmasbaby0

The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical expenses that will count toward itemization for someone under 65 is the amount that is OVER 10% of your adjusted gross income; for someone 65 or older it would be the amount over 7.5% of your AGI.  

You should only enter the amount that you paid in 2016—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.

To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses

7 replies

Employee
June 1, 2019
Do you have any other itemized deductions to enter?  Are you planning to upgrade to Deluxe to enter itemized deductions such as mortgage interest, property taxes, etc.?
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Employee
June 6, 2019
The medical deduction is one of the hardest deductions to get.  If you only have medical and charity, you are probably not going to be able to itemize and should just take the standard deduction.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
June 6, 2019
I plan on doing medical deductions, because I have had some many appointments and procedures this year.
Employee
June 6, 2019
Did you read the information below about the medical deduction?
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
June 6, 2019
Well, the whole medical thing is what is killing me this year, more bills then total income, I am doing my best to pay them off but I cant even, thats why I am looking for any breaks I can get. Should I still go Standard?
June 6, 2019
Yes, thanks for your help.
xmasbaby0Answer
Employee
June 6, 2019

The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical expenses that will count toward itemization for someone under 65 is the amount that is OVER 10% of your adjusted gross income; for someone 65 or older it would be the amount over 7.5% of your AGI.  

You should only enter the amount that you paid in 2016—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.

To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Employee
June 6, 2019
2016 Standard Deductions
Single    $6300  (65 or older + $1550)
Married Filing Separately   $6300  (65 or older +  $1250)
Married Filing Jointly           $12,600  (65 or older + $1250@)
Head of Household $9300  (65 or older + $1550)
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**