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happydeb7
New Member

Where and how do we itemize premiums for medical, prescriptions, etc.?

 
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3 Replies

Where and how do we itemize premiums for medical, prescriptions, etc.?

MEDICAL EXPENSES

The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical (including dental, vision, etc.)  expenses that will count toward itemization is the amount that is OVER 7.5% of your adjusted gross income. You should only enter the amount that you paid in 2021—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.

To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses

 

 

2021 STANDARD DEDUCTION AMOUNTS

 

SINGLE $12,550  (65 or older + $1700)

 

MARRIED FILING SEPARATELY $12,550  (65 or older + $1350)

 

MARRIED FILING JOINTLY $25,100  (65 or older + $1350 per spouse)

 

HEAD OF HOUSEHOLD  $18,800  (65 or older +$1700)

 

Legally Blind + $1350

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
LenaH
Employee Tax Expert

Where and how do we itemize premiums for medical, prescriptions, etc.?

Medical, dental, and vision expenses are reported on Schedule A and entered in the Deductions & Credits section. You can deduct the portion of medical expenses that exceed 7.5% of your adjusted gross income (AGI) for 2021.

  1. With your return open, search for Schedule A and then select the Jump to link in the search results.
  2. Enter your medical expenses, starting with prescriptions, on the following screens.
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Where and how do we itemize premiums for medical, prescriptions, etc.?

this is no requirement to list each type of medical expense. all the IRS gets is a total from what you entered. 

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