Who qualifies for additional deductions for medical expenses?

Taxpayers can qualify for additional deductions for medical expenses if their total eligible medical expenses exceed a specified percentage of their adjusted gross income (AGI). The current threshold for deducting unreimbursed medical expenses is 7.5% of AGI. This means that if medical expenses surpass this percentage, taxpayers can deduct the excess amount on their tax return, allowing them to reduce their taxable income significantly.

This deduction is not available to all taxpayers at any income level, as there is a clear requirement to exceed the AGI threshold. Nor is this deduction exclusive to senior taxpayers or limited to self-employed individuals. Therefore, taxpayers who find their medical expenses are high enough relative to their income may benefit from additional deductions, which can provide critical financial relief, especially in unexpected or costly health situations.