Retirement tax questions

You can deduct unreimbursed medical /insurance expenses paid out of pocket if you itemize and the total expenses for you, your spouse, and your dependents exceed 7.5 % of your adjusted gross income.

The deduction is limited to the expenses above and beyond this amount.

On her pension, if the medical insurance is deducted after tax (rather than pre tax) she can deduct it. If she is not sure, she should contact her former employer or plan administrator.

To enter medical/insurance expenses:

·              Type in medical expenses the search box, top right of your screen, hit the Enter key

·              Click the jump to medical expenses link in the search results

·              Follow to prompts and online instructions

 



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