Question

david and shirley are both in mid 60s. In 2017 they paid 3000 each for their ling term policies. how much deduct as medical expense subject to percentage limitation. 3000 3800 6000 7600

Answer 1

Your medical expenses may save you money at tax time, but a few key rules apply. Here are some tax tips to help you determine if you can deduct medical and dental expenses on your tax return:

Itemize. You can only claim your medical expenses that you paid for in 2015 if you itemize deduction on your federal tax return.
Income. Include all qualified medical costs that you paid for during the year, however, you only realize a tax benefit when your total amount is more than 10 percent of your adjusted gross income
Temporary Threshold for Age 65.  If you or your spouse is age 65 or older, then it’s 7.5 percent of your adjusted gross income. This exception applies through Dec. 31, 2016.
Qualifying Expenses.  You can include most medical and dental costs that you paid for yourself, your spouse and your dependents including:

The costs of diagnosing, treating, easing or preventing disease.
The costs you pay for prescription drugs and insulin.
The costs you pay for insurance premiums for policies that cover medical care qualify.
Some long-term care insurance costs.

Exceptions and special rules apply. Costs reimbursed by insurance or other sources normally do not qualify for a deduction. For more examples of costs you can and can’t deduct, see IRS publication 502

Medical and Dental Expenses.

Yes,

From the above information

You can get the required answer

Please go through the privisions clearly