Deductions & credits

If you paid the premiums for the health insurance of a dependent, you can deduct the expenses as an itemized deduction on your tax return. Only the amount of all medical expenses in excess of 7.5% of your AGI are actually entered as a deduction by TurboTax. If all the itemized deductions add up to more than the standard deduction for your filing status, you should get a tax benefit. 

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