I have insurance through my emp.,I paid Obamacare premium for my parents. I received 1095-A & I claimed parent as dependent. Can I deduct monthly premium on my taxes?

 
Coleen3
Intuit Alumni

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Any medical expense you paid for your dependents is deductible. If the premiums were fully or in part paid by the Premium Tax Credit, then these amounts are not deductible.

Which medical expenses are deductible?

The IRS allows you to deduct preventative care, treatment, surgeries and dental and vision care as qualifying medical expenses. You can also deduct visits to psychologists and psychiatrists. Prescription medications and appliances such as glasses, contacts, false teeth and hearing aids are also deductible.

The IRS also lets you deduct the expenses that you pay to travel for medical care such as mileage on your car, bus fare and parking fees.

What's not deductible?

Any medical expenses for which you are reimbursed, such as by your insurance or employer, cannot be deducted. In addition, the IRS generally disallows expenses for cosmetic procedures. You cannot deduct the cost of non-prescription drugs (except insulin) or other purchases for general health such as toothpaste, health club dues, vitamins or diet food, non-prescription nicotine products or medical expenses paid in a different year.

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