CHAPTER 17Medical and Dental Expense Deductions
If you have unreimbursed medical expenses that exceed 7.5% of your adjusted gross income (17.1), you may be able to deduct some of your expenses, assuming that you are able to claim itemized deductions that exceed your standard deduction (13.1).
A different rule applies if you are self employed and paid health insurance premiums. As a self-employed person, you do not have to itemize your premiums; you can claim 100% of the premiums as an above-the-line deduction directly from gross income (12.2).
Carefully review the list of deductible expenses in this chapter so that you do not overlook any deductible expenses. Include payments of doctors' fees, healthcare premiums, prescription medicines, travel costs for obtaining medical care, and eligible home improvements. COVID-19-related personal protective equipment is also deductible (17.2).
If you are married, both you and your spouse work, and one of you has substantial medical expenses, filing separate returns may result in a lower overall tax.
Qualifying long-term-care expenses may be treated as medical expenses subject to the AGI floor, including a specified deductible amount of premiums paid for a qualifying long-term-care contract (17.15).
Deductible contributions to health savings accounts (HSAs) and Archer MSAs may be available to individuals covered by high deductible health plans; see Chapters 12 and 41.
Get J.K. Lasser's Your Income Tax 2022 now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
