Which statement is correct regarding the percentage of qualified medical and dental expenses taxpayers will be allowed to deduct on their 2019 tax return?

Respuesta :

Answer:

7.5%

Explanation:

In 2019, the Internal Revenue Service(IRS) United States allows taxpayers deduct qualified medical and dental expenses that exceed 7.5% of adjusted gross income(AGI). Example if your adjusted income for relevant year is $60000 and your medical expenses amount to $6000, your deductions will amount to $60000*0.075= $4500=$6000-$4500=$1500. Therefore you are eligible to deduct $1500 from AGI

ACCESS MORE
EDU ACCESS