How can I deduct my medical expenses on my taxes?
An example of an AI chatbot conversation about medical expenses and tax deductions.
How can I deduct my medical expenses on my taxes?
You can deduct medical expenses that exceed 7.5% of your adjusted gross income. Make sure to keep all receipts.
What types of medical expenses are deductible?
Deductible expenses include hospital bills, prescription medications, and certain long-term care costs.
Are there any limits on how much I can deduct?
Yes, as mentioned, only the amount that exceeds 7.5% of your AGI is deductible. It's important to calculate this accurately.
Do I need to itemize my deductions to claim medical expenses?
Yes, you must itemize your deductions on Schedule A of your tax return to claim medical expenses.
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