Which of the following describes how medical and dental expenses are deductible?

Medical and dental expenses are deductible to the extent that they exceed a certain percentage of a taxpayer's adjusted gross income (AGI). Currently, taxpayers can deduct qualified medical and dental expenses that exceed 7.5% of their AGI. This means that if an individual's total medical and dental expenses exceed 7.5% of their AGI for the year, they can deduct the amount that exceeds this threshold from their taxable income.

For example, if a taxpayer has an AGI of $50,000, medical expenses must exceed $3,750 (which is 7.5% of $50,000) for any amount above that to be deductible. This deduction is beneficial because it can lower taxable income significantly, depending on the amount of medical expenses incurred.

The option stating that only expenses exceeding 10% of AGI are deductible is not aligned with current tax regulations, as the threshold is set at 7.5%. The notion that all medical expenses are fully deductible is inaccurate because of the AGI limitation. Lastly, the statement about only pre-approved expenses being deductible misrepresents the deduction process; while some expenses may need to be substantiated, they are not categorized as “pre-approved” for deductions, unlike some other