Question

Last year Jeremy had $7900 in medical expenses. If his AGI was $89,000, will he be able to deduct his medical expenses and if so, what amount?

Answer 1

medical expenses are deducted on schedule A - which is required to be over 7.5% of AGI

Answer 2

He will be able to deduct his medical expenses by $1225.

Explanation:

If his medical expenses are over 7.5% of his AGI he can reduce it to 7.5%.

His AGI was $89,000. How much is 7.5% of that?

0.075*89000 = $6675.

His expenses are over 7.5%, so yes, he can reduce.

He can reduce from $7900 to $6675, so 7900 - 6675 = $1225