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peacefulwaters22
August 21, 2023
Question

I am getting dental implants this year that would cost $40,000. I know I can deduct anything of 7.5 of my AGI. Is there a maximum deduction?

  • August 21, 2023
  • 2 replies
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2 replies

DoninGA
DoninGA
Employee
August 21, 2023

No, there is not a maximum for a medical itemized deduction.

    X
    xmasbaby0
    Employee
    August 21, 2023

    But .... do understand that itemized deductions can affect your refund or tax due to the extent that you either owe less or maybe get back some or all of the tax that was withheld from your income.  You will not get a refund that is more than the tax that was withheld based on a medical expense 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.**
      N
      NCPERSON1
      August 21, 2023

      in essence, the deduction can not result in line 15 for Form 1040 to be less than zero.  That creates the limit. 

      M
      Mike9241
      August 22, 2023

      you can only deduct what you actually pay in the year. 

      due to tax laws if you finance with the dentist, you can only deduct what you pay on the loan each year.

      while if you put it on your personal credit card, you can deduct the full $40K

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