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QUESTION DETAIL
Related User
Votes
What % of your income has to be spent on medical bills before you can use them as a tax deduction?
ANSWER
The BIDaWIZ Team's Answer:
The schedule A itemized deductions "floor," for medical
expenses, is 7.5% of your adjusted gross income [AGI].
See IRC 213(a). Thus, only the amount in excess of the
7.5% AGI floor is deductible.
