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March 3, 2025
Question

How to amend a return and add medical expenses

  • March 3, 2025
  • 1 reply
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When I select revisit under Medical Expenses it says the standard deduction save the most. However, I have a large medical expenses I did not know I can add.

    1 reply

    March 3, 2025

    If it is still giving you the standard deduction this is likely because medical expenses are only deductible for the amount that is over 7.5% of your AGI.  This means, if your AGI is $100,000, and you have $20,000 in medical expenses, only those expenses OVER $7,500 are deductible so you would only be able to deduct $12,500 of medical expenses.  If you do not have any other itemized expenses and you are single, this would still be under your standard deduction of $14,600.  

     

    Itemized expenses include mortgage interest, gambling losses up to winnings,  charitable contributions, state and local taxes up to $10,000, medical expenses in excess of 7.5% of your AGI and casualty and losses in excess of 10% of you AGI with the first $100 not counting towards the loss. 

     

    Then your total itemized expenses would need to be greater than your standard deduction below in order to benefit from your expenses. 

     

    The 2024 Standard Deductions are as follows:

    • Married Filing Joint (MFJ)              $29,200
    • Married Filing Separate (MFS)      $14,600
    • Head of Household (HOH)             $21,900 
    • Single                                                 $14,600                                

    Blind or over 65 and MFJ or MFS add $1,550

    Single or HOH if blind or over 65 add $1,950

     

     

    Standard versus Itemized Deduction

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