The threshold amount for the deductibility of allowable medical expenses for those under 65 in 2015 is:
A) 10% of AGI.
B) 10% of taxable income.
C) 7.5% of AGI.
D)7.5% of taxable income.

Question

Quizplus · Accepted Answer

The threshold amount for the deductibility of allowable medical expenses for those under 65 in 2015 is 10% of AGI. This means that medical expenses that exceed 10% of a person's adjusted gross income can be deducted on their tax return as itemized deductions.

The Threshold Amount for the Deductibility of Allowable Medical Expenses