Medical expenses: For AMT purposes, you can only deduct the amount of your medical expenses that exceed 10% of your adjusted gross income. In Charles' case, his medical expenses of $2,375 can be deducted. With 8,000 in medical expenses, and 10% of adjusted gross income being 7,500, wouldn't it be $500 instead of $2,375?

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12-06-2024
Business

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Medical expenses: For AMT purposes, you can only deduct the amount of your medical expenses that exceed 10% of your adjusted gross income. In Charles' case, his medical expenses of $2,375 can be deducted. With 8,000 in medical expenses, and 10% of adjusted gross income being 7,500, wouldn't it be $500 instead of $2,375?

Sagot :

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