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KGTurTax
New Member

Costs for Child Birth in Hospital, Insurance paid for half, is the half I paid eligible to write off?

We paid over $4000 after insurance for Hospital bills covering child birth.
1 Best answer

Accepted Solutions
Kadian
New Member

Costs for Child Birth in Hospital, Insurance paid for half, is the half I paid eligible to write off?

Yes, you can deduct your medical expenses. This is the Medical and Dental Expenses Deduction. 

"This deduction allows you to deduct a percentage of your qualified medical and dental expenses. Qualified medical and dental expenses include the cost of diagnosis or treatment to cure, improve or prevent a physical or mental illness or defect. They include costs such as:

  • - Payments to or payments for services to doctors or dentists
  • - Hospital fees
  • - Some insurance premiums (including Medicare)
  • - Prescription medications
  • - Medical equipment and supplies
  • - Miles driven with your car for medical purposes"

TurboTax will do the math for you as you go through your return. The basic rule is that you can deduct qualified medical expenses that add up to more than 10% of your adjusted gross income (AGI) (7.5% if either you or your spouse is age 65 or older).

Here's how the amount is calculated. Multiple your AGI by 10%. This will give you the dollar amount you must exceed to start deducting your medical expenses.

Example: If your AGI is $40,000 and you have $5,000 in medical expenses, you can deduct $1,000. This is because you can't deduct the first $4,000 (or $40,000 x 10%) but you can deduct anything over that if you are itemizing."

To enter this TurboTax: click on the Federal Taxes tab > Deductions & Credits > Scroll down to the Medical section and click start next to Medical Expenses. 


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1 Reply
Kadian
New Member

Costs for Child Birth in Hospital, Insurance paid for half, is the half I paid eligible to write off?

Yes, you can deduct your medical expenses. This is the Medical and Dental Expenses Deduction. 

"This deduction allows you to deduct a percentage of your qualified medical and dental expenses. Qualified medical and dental expenses include the cost of diagnosis or treatment to cure, improve or prevent a physical or mental illness or defect. They include costs such as:

  • - Payments to or payments for services to doctors or dentists
  • - Hospital fees
  • - Some insurance premiums (including Medicare)
  • - Prescription medications
  • - Medical equipment and supplies
  • - Miles driven with your car for medical purposes"

TurboTax will do the math for you as you go through your return. The basic rule is that you can deduct qualified medical expenses that add up to more than 10% of your adjusted gross income (AGI) (7.5% if either you or your spouse is age 65 or older).

Here's how the amount is calculated. Multiple your AGI by 10%. This will give you the dollar amount you must exceed to start deducting your medical expenses.

Example: If your AGI is $40,000 and you have $5,000 in medical expenses, you can deduct $1,000. This is because you can't deduct the first $4,000 (or $40,000 x 10%) but you can deduct anything over that if you are itemizing."

To enter this TurboTax: click on the Federal Taxes tab > Deductions & Credits > Scroll down to the Medical section and click start next to Medical Expenses. 


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