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New Member
posted Apr 8, 2024 9:44:04 PM

If I have the papers from my dental insurance. It has my paid bills and says "Save this statement for the taxes purposes" When should I use it ?

It says, " Insured explanation of benefits."I paid a lot for the dental this year, where should I put this ?

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1 Best answer
Level 15
Apr 8, 2024 9:50:48 PM

Enter Medical under

Federal (Personal for HB)

Deductions and Credits

Then scroll way down to Medical

Then Medical Expenses - click Start or Update


You will have to upgrade to a paid version like Deluxe to enter deductions.

 

You can only deduct the amount of unreimbursed Medical Expenses you actually paid over 7.5% of your AGI.  And then all your itemized deductions have to be more than the standard deduction to get any benefit (so you would only be getting the benefit of the amount that puts you over the standard deduction).  And since the Standard Deduction is increased more people will not need to Itemize.

 

For 2023 the standard deduction amounts are:

Single 13,850 + 1,850 or 65 and over or blind

HOH 20,800 + 1,850 for 65 and over or blind

Joint 27,700+ 1,500 for each 65 and over or blind

Married filing Separate 13,850 + 1,500 for 65 and over or blind

 

2 Replies
Level 15
Apr 8, 2024 9:50:48 PM

Enter Medical under

Federal (Personal for HB)

Deductions and Credits

Then scroll way down to Medical

Then Medical Expenses - click Start or Update


You will have to upgrade to a paid version like Deluxe to enter deductions.

 

You can only deduct the amount of unreimbursed Medical Expenses you actually paid over 7.5% of your AGI.  And then all your itemized deductions have to be more than the standard deduction to get any benefit (so you would only be getting the benefit of the amount that puts you over the standard deduction).  And since the Standard Deduction is increased more people will not need to Itemize.

 

For 2023 the standard deduction amounts are:

Single 13,850 + 1,850 or 65 and over or blind

HOH 20,800 + 1,850 for 65 and over or blind

Joint 27,700+ 1,500 for each 65 and over or blind

Married filing Separate 13,850 + 1,500 for 65 and over or blind

 

Level 15
Apr 8, 2024 10:02:12 PM

If you paid in 2023 then Medical expenses for 2023. if your payment was in 2024 it would only be included with 2024 return.