I am itemizing my tax return. Do I need to be concerned about medical deduction limits?

When itemizing a tax return, medical deduction limits is generally not an issue for most people. You can deduct the medical expenses that are more than a percentage of your adjusted gross income (AGI). Depending on your age and the tax year, this percentage is either:

• 7.5% of your AGI
• 10% of your AGI

You report medical expenses on Schedule A, and you must itemize to deduct them.

You can deduct medical expenses for disease:

• Diagnosis
• Cure
• Easing
• Treating
• Prevention

If one of those applies, you can also include the associated costs for:

• Equipment
• Supplies
• Diagnostic services

The expenses must be primarily to improve or prevent a physical or mental deficiency or illness.