perscription copay deductible?
Showing results for 
Search instead for 
Did you mean: 
New Member

perscription copay deductible?


I am wondering if copays for prescriptions are deductible

2 Replies
Level 15

perscription copay deductible?

Yes copays for prescriptions paid by you are deductible as a medical expense in itemized deductions. You can only deduct the amount of medical expenses in excess of 7.5% of your AGI. You may get a tax benefit if the total of all your itemized deductions is more than the standard deduction. 


See this for what is included in itemized deductions:


Here are the standard deductions for 2019:

Single - $12,200 add $1,600 if age 65 or older
Married Filing Separately - $12,200 add $1,600 if age 65 or older
Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
Head of Household - $18,350 add $1,600 if age 65 or older

Level 13

perscription copay deductible?

Sure. They are a medical expense deduction if you itemize. But only an amount  of total medical expenses greater than 7.5 percent of your AGI can be deducted. 

Privacy Settings