I paid out of pocket for perscriptions. How do I deduct this

 
MinhT
Expert Alumni

Deductions & credits

Your prescriptions are Medical expenses.

You can claim all medical and dental bills, prescription costs and health insurance premiums paid out-of-pocket as Medical Expenses in Schedule A - Itemized Deductions

For tax year 2018, Medical Expenses are subject to the 7.5% rule and you can only claim the excess over 7.5% of your Adjusted Gross Income.

Please note that Itemized Deductions will only "help" when they exceed your standard deduction.

For 2018, standard deductions are:

For a taxpayer under 65, not claimed as a dependent

  • $12,000 for Single
  • $24,000 for Married Filing Jointly, or Qualifying Widow(er) with dependent child
  • $18,000 for Head of Household
  • $12,000 for Married Filing Separately
  • If you are over 65 or blind, add $1,300 for each instance if married or add $1,600 each instance if single or head of household

In TurboTax, you can enter Medical expenses by following these steps:

  • In TurboTax, open your tax return
  • Click on Federal in the left-hand column, then on Deductions & Credits on top of the screen
  • Scroll down to All Tax breaks, locate the section Medical and click on Show more
  • Click Start next to Medical Expenses.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

Deductions & credits

And to enter deductions you have to upgrade to Deluxe which is $39.99 for Federal and also $39.99 for state.

Deductions & credits

Thank you