Question

Are medical expenses deductible? What about personal casualty losses?

Answer 1

Yes, medical expenses are deductible. IRS generally permits medical expenses deduction if you have unreimbursed expenditure that exceeds 7.5% of the Adjusted Gross Income (AGI) for tax years 2017 or 2018.

Personal casualty losses, beginning January 2018 to December 2025, are non-deductible unless these are attributable to a Federally Declared Disaster. If the President declares under Section 401 of the 'Robert T. Stafford Disaster Relief and Emergency Assistance Act' then it allows claiming a personal casualty loss as an itemized deduction however subject to the $100 per casualty or theft event; and 10% of an individual's adjusted gross income (AGI).