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  • Denise Hue

Itemized Deductions - Medical Expenses (2019 Update)

This is a tax break that can be hard to benefit from. Only medical expenses beyond 7.5% of your adjusted gross income (AGI) is deductible (down from 10%). You will either need to have an extremely low income or terribly high medical expenses, in most cases, to benefit from this tax deduction.

Here are the most overlooked medical expenses:

  • Transportation costs or miles driven to obtain medical services.

  • Parking, fees and tolls.

  • Premiums paid for medical or dental insurance (do not include premiums paid from withholding from your paycheck – these payments are made on a pre-tax basis and are not deductible).

  • Lodging limited to $50 per night for you and a person travelling with you.

  • Long term care insurance.

  • Advance payments for lifetime care.

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