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DeluxeXL t1_je8hg4l wrote

Reply to comment by greencymbeline in How should I deal with very high medical expenses on a low income in our taxes? by greencymbeline

> But that’s what I’m here asking

You said $24k was out of pocket.

$55k was the AGI.

7.5% of $55k is $4125.

$24k - $4125= $19875.

Do you have anything else to itemize? Such as

  1. $19875: medical expense
  2. $_____: charitable donations
  3. $_____: property tax, real estate tax, etc.
  4. $_____: either state income tax or state sales tax (#3 and #4 are capped at $10k together)
  5. $_____: mortgage interest
  6. $_____: losses in federal disaster areas
  7. $_____: gambling losses

If your total itemized deduction exceeded $25900 (standard deduction for MFJ), take the itemized deduction.

> Does it matter that the $24,000 was a gift?

No

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greencymbeline OP t1_je8iso2 wrote

I made an edit in my OP: our income is $55k, not $65k.

Thank you for the explanation, although I’m not sure what the outcome means. Thanks for the info about the gift.

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DeluxeXL t1_je8izn3 wrote

Do you own a home? If yes, how much did you pay in property tax and the interest portion of mortgage in 2022?

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