turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Can I write off monthly health insurence payments and/or out of pocket medical Bill's on my taxes ?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Can I write off monthly health insurence payments and/or out of pocket medical Bill's on my taxes ?

Yes but only the amount over 7.5% of your AGI and then if you itemize deductions instead of taking the Standard Deduction.

 

For 2021 the standard deduction amounts are:

Single 12,550 + 1,700 for 65 and over or blind (14,250)

HOH 18,800 + 1,700 for 65 and over or blind

Joint 25,100 + 1,350 for each 65 and over or blind

Married filing Separate 12,550 + 1,350 for 65 and over or blind

 

Enter Medical under

Federal on left

Deductions and Credits

Then scroll way down to Medical

Then Medical Expenses - click Start or Update

 

 

Can I write off monthly health insurence payments and/or out of pocket medical Bill's on my taxes ?

I enter them on medical expenses.  I don't have enough to beat the standard deduction, but I do get them applied to lower my state taxes.  Just include them in your return and they might give you a break with the state even if not with federal.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question