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hcooks
New Member

Where do i include my prescription cost

 
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Accepted Solutions
IreneS
Intuit Alumni

Where do i include my prescription cost

Please keep in mind the following about deducting your prescription costs  (and other medical expenses):

  • You don't get the benefit if you are taking the standard deduction.
  • If you itemize deductions, you will only be able to take total medical expenses that are greater than:
    • 10% of your adjusted gross income if you are under age 65; or
    • 7.5% of your adjusted gross income if you are age 65 or over (born before January 2, 1951).


To enter medical expenses in TurboTax, please follow these steps:

  1. Click on Federal Taxes > Deductions & Credits  [In TT Self-Employed:  Personal > Deductions & Credits > I'll choose what I work on].
  2. In the Medical section, click on the Start/Revisit box next to Medical Expenses.  (See Screenshot #1 below.)
  3. Continue through the interview, entering the requested information on your medical expenses.
  4. You will come to the screen Tell us about any prescription medication expenses.  This is where you can enter your prescription costs.  (Screenshot #2)


**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
IreneS
Intuit Alumni

Where do i include my prescription cost

Please keep in mind the following about deducting your prescription costs  (and other medical expenses):

  • You don't get the benefit if you are taking the standard deduction.
  • If you itemize deductions, you will only be able to take total medical expenses that are greater than:
    • 10% of your adjusted gross income if you are under age 65; or
    • 7.5% of your adjusted gross income if you are age 65 or over (born before January 2, 1951).


To enter medical expenses in TurboTax, please follow these steps:

  1. Click on Federal Taxes > Deductions & Credits  [In TT Self-Employed:  Personal > Deductions & Credits > I'll choose what I work on].
  2. In the Medical section, click on the Start/Revisit box next to Medical Expenses.  (See Screenshot #1 below.)
  3. Continue through the interview, entering the requested information on your medical expenses.
  4. You will come to the screen Tell us about any prescription medication expenses.  This is where you can enter your prescription costs.  (Screenshot #2)


**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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