You can include a total for the co-pays as medical expenses.
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:
- Click on Federal Taxes > Deductions & Credits [In TT Self-Employed: Personal > Deductions & Credits > I'll choose what I work on].
- In the Medical section, click on the Start/Revisit box next to Medical Expenses. [See Screenshot #1 below.]
- TurboTax will then ask you if your total medical expenses exceed a certain number. [That's the 10% AGI or 7.5% AGI mentioned above.]
- If you think your total medical expenses will exceed that number, continue through the interview, entering the requested information on your medical expenses.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Still have questions?Make a post