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How much can I claim on 2010 taxes for medical expenses if I had $5,000 in dental bills and gross income of $18,000?


ANSWER


Expert Abraham Itani's Answer:

Medical Expenses are subject to 7.5% of your AGI. 

 

18,000*0.075=1,350

 

you would be able to deduct any amount above 1,350. Therefore the amont would be 3,650.

 

Hope this helps

 

Abraham Itani, CPA

Abraham Itani, CPA

New Jersey

20+ yrs experience

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