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My wife and I are paying $800.00per month for long term health care insurance. is this deductable?
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June 4, 2019
8:38 PM
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Deductions & credits
Yes, you can deduct medical expenses/insurance if you itemize and the total expenses for you, your spouse, and your dependents exceed 10% of your adjusted gross income (7.5% if you're 65 or older as of December 31, 2016). The deduction is limited to the expenses above and beyond this amount.
See Deducting Medical, Dental, and Vision Expenses
To enter your medical /insurance expenses -
Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credits
Click on I'll choose what I work on (if shown)
Scroll down to Medical
On Medical Expenses, click the start or update button
June 4, 2019
8:38 PM