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At what point in this process can i ask questions to determine if i can go long form or short?
Can I deduct my medical insurance premiums as part of medical expenses if I go long form?
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At what point in this process can i ask questions to determine if i can go long form or short?
There is no "long form" or "short form" now. Everyone gets a Form 1040. Everything goes on a little “postcard-size” Form 1040 that has six extra "schedules" with it.
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 2018—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
2018 Standard Deductions:
Single $12,000 (+ $1600 65 or older)
Married Filing Separately $12,000 (+ $1300 65 or older)
Married Filing Jointly $24,000 (+ $1300 each spouse 65 or older)
Head of Household $18,000 (+ $1600 65 or older)
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At what point in this process can i ask questions to determine if i can go long form or short?
There is no "long form" or "short form" now. Everyone gets a Form 1040. Everything goes on a little “postcard-size” Form 1040 that has six extra "schedules" with it.
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 2018—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
2018 Standard Deductions:
Single $12,000 (+ $1600 65 or older)
Married Filing Separately $12,000 (+ $1300 65 or older)
Married Filing Jointly $24,000 (+ $1300 each spouse 65 or older)
Head of Household $18,000 (+ $1600 65 or older)
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At what point in this process can i ask questions to determine if i can go long form or short?
@cuppsjeffrey (and other readers) that even if your standard deduction is a better choice than itemized deduction, if your state has a separate allowable deduction on state taxes for medical expense, you still want to plug in all the expenses.
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