What Qualifies as a Medical Deduction?
With COVID upon us and tax season coming up, you may be wondering if you can get any tax money back for all those dizzyingly exorbitant medical expenses you may have had. The answer, as it is with so many tax questions, is “it depends.” The deductibility of your medical expenses depends on: Whether your medical expenses exceed the “AGI floor” (more on that below)Whether you itemize your deductionsThe types of medical expense(s) you have incurred We’ll tell you right now that, sadly, unless you’ve had a major medical expense in 2020, you will likely be unable to deduct any…
