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New Member
posted May 23, 2023 2:22:15 PM

As last year diagnosed Cancer patient how can I submit my tax return in order to be able to get my premium health insurance as 100% deductible?

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Level 15
May 23, 2023 2:51:44 PM

The type of medical condition you have is not relevant in regards to how much of your health insurance premiums paid is deductible.

 

Health care insurance premiums, including dental and vision insurance premiums, and other medical expenses that you paid with out of pocket funds and were not reimbursed are an eligible medical expense that you can deduct using Schedule A for itemized deductions. However, only your total medical expenses that are greater than 7.5% of your Adjusted Gross Income (AGI) can be deducted. Your total itemized deductions reported on Form 1040 Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.