Can I deduct medical expenses from my 2014 taxes?

January is the time of year when people receive all of their income information related to their taxes. It often gets people thinking about possible deductions they can take from their income to save money on their taxes. There have been some changes in healthcare around the country over the last several years, as many already know. However, if last year people suffered a personal injury with resounding medical expenses it could affect their taxes this year.

The IRS has released a fact sheet about how the changes to healthcare could affect taxes this year. This is especially relevant to those who were afflicted by serious injury and incurred corresponding medical expenses. Almost every step in the process of medical care can be considered an itemized deduction. This includes diagnosing, easing, preventing or treating a condition or injury. Potentially, this could be great news for someone who fell victim to personal injury last year.

People cannot claim expenses that were paid for by the insurance company. However, the majority of people who suffer an injury are left paying some portion of the medical costs associated with that injury. In that respect, people can deduct medical and dental expenses that are more than 7.5 percent of their adjusted gross income. Naturally, this number will vary with income earned.

While people may be considering filing a personal injury claim, they should not disregard the expenses that they have already incurred. People may or may not be able to recoup these expenses from a negligent party. It is important that all people affected by medical expenses last year be aware of the changes in medical expense tax deductions. It can only benefit those affected by medical costs.

Source: IRS, "7 Important Tax Facts About Medical and Dental Expenses," Accessed Jan. 19, 2015

No Comments

Leave a comment
Comment Information
The state bar of california | July 29th 1927 Avvo Consumer attorneys California Aba The American Trial Lawyers Association | The association San Bernardino County Bar Nolo Law for All
| Email Us For A Response

Talk To An Attorney For Free

It will cost you nothing to discuss your case with one of our experienced attorneys. In fact, we handle all cases on a contingency basis, which means you only pay if we provide results.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Office Location

Kampf, Schiavone & Associates
715 N. Arrowhead Ave.
Suite 104
San Bernardino, CA 92401

Toll Free: 800-658-6851
Fax: 909-384-0673
San Bernardino Law Office Map