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Maximize medical expense deductions with these tips

BY BARRY LISAK
Posted 7/8/22
If you itemize your deductions on Form 1040, Schedule A, you may be able to deduct expenses you paid in 2022 for medical and dental care for yourself, your spouse and your dependents. Here are some facts the IRS wants you to know about medical and dental expenses.

• For the 2022 tax year, you may deduct only the amount by which your total medical care expenses for the year exceed 7.5 percent of your adjusted gross income (AGI). For instance, if your AGI is $100,000, then unreimbursed medical expenses have to exceed $7,500 ($100,000 x 7.5 percent).  

• You can only include medical expenses you paid for during the year. These expenses must be reduced by any insurance reimbursement. It makes no difference if you receive the reimbursement or if it is paid directly to the doctor or hospital. 

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