What is the medical expense deduction threshold?

You can deduct medical expenses that exceed 7.5% of your Adjusted Gross Income (AGI) when you itemize. For example, with $80,000 AGI, only expenses above $6,000 are deductible. Qualifying expenses include premiums for insurance not already deducted elsewhere, out-of-pocket doctor and hospital costs, prescriptions, and medically necessary equipment. Cosmetic procedures and most over-the-counter items do not qualify.