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dog7back
New Member

Am I able to deduct money spent on Health Insurance?

 
1 Reply
WillK
Level 9

Am I able to deduct money spent on Health Insurance?

Yes, as long as you are paying your premiums with your after-tax dollars, you are able to claim this under your medical deduction. Medical expenses are an itemized deduction on Schedule A and are deductible to the extent they exceed 10% of your adjusted gross income (AGI). If you are 65 or over, they are deductible to the extent they exceed 7.5%  Please click here for more information: https://www.irs.gov/taxtopics/tc502.html

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