What is MEDICAL EXPENSE DEDUCTION?

On itemized tax returns for medical expenses, individuals may deduct from their income this specific type of amount. Medical expenses above 7.5% of their adjusted gross income can be deducted by eligible Individuals.

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Related Legal Terms
MEDICAL EXPENSE INSURANCE, STANDARD DEDUCTION, MOVING EXPENSE DEDUCTION, BLANKET MEDICAL EXPENSE INSURANCE, MEDICAL EXPENSE REIMBURSEMENT PLAN, TAX DEDUCTION, MEALS AND ENTERTAINMENT EXPENSE, MEDICAL SAVINGS ACCOUNT, EXPENSE RATIO, OPERATING EXPENSE RATIO


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