You'll need to sign in or create an account to connect with an expert.
you are not allowed to 'double dip'
if the medical expenses are deducted from your paycheck on a pre-tax basis (and normally they are), then you can't also deduct the medical expenses if you are itemizing your deductions. That s a form of 'double dip'. Since the medical expenses are paid with pre-tax money, you are already getting a benefit of not paying taxes on that income, so you can't get the benefit AGAIN but deducting as a medical expenses.
Frankly, for most, it is unlikely they could be deducted if you itemized. Only the medical expenses that exceed 7.5% of your income are tax deductible and then you must have enough other deductible expenses to itemize. Most, but not all taxpayers, take the standard deduction.
Can insurance premiums be added to medical expenses that are deducted from your paycheck? Does this include medical, dental, and vision?
to answer the second question first - yes but see the answer to the first question.
are you entitled to take a medical expense deduction - maybe yes maybe no. even though deducted from your paycheck, your employer may have an employee benefit plan so that your taxable wages line 1 of your W-2 are reduced for the amount deducted. thus you have already gotten a deduction. so no double dipping. if you don't know the answer to this ask your employer.
Most of the time, medical insurance premiums paid through payroll deduction are pre-tax, that means, already taken off your taxable income. Since the money is already taken off your taxable income, you can't include it as a tax deduction since that would be double-dipping.
Premiums you pay out of pocket with after-tax money are allowable to be listed as deductible medical expenses, although whether you will get an actual tax reduction depends on your overall tax deduction situation.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
rickmccormick714
New Member
sashmob
New Member
lasq90
Returning Member
rmbibber
New Member
joemirarchi10
Level 1