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Deductions & credits
you are not allowed to 'double dip'
if the medical expenses are deducted from your paycheck on a pre-tax basis (and normally they are), then you can't also deduct the medical expenses if you are itemizing your deductions. That s a form of 'double dip'. Since the medical expenses are paid with pre-tax money, you are already getting a benefit of not paying taxes on that income, so you can't get the benefit AGAIN but deducting as a medical expenses.
Frankly, for most, it is unlikely they could be deducted if you itemized. Only the medical expenses that exceed 7.5% of your income are tax deductible and then you must have enough other deductible expenses to itemize. Most, but not all taxpayers, take the standard deduction.
‎November 14, 2022
9:18 AM
554 Views