Can you deduct the health insurance deductible you must pay before using your health insurance every year?

[lcking62]

The insurance deductible is different from the insurance premium (paid monthly).

[ee-ea]

Medical expenses are the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and for the purpose of affecting any part or function of the body. These expenses include payments for legal medical services rendered by physicians, surgeons, dentists, and other medical practitioners. They include the costs of equipment, supplies, prescription drugs and diagnostic devices needed for these purposes. They include the costs of insurance and deductables paid by the taxpayer that pays for medical expenses. To be a part of itemized deductions the out of pocket medical expenses must be more than 7.5% of adjusted gross income.

[VolvoGirl]

Yes you can deduct medical expenses if you itemize deductions.

To enter Medical expenses just start typing Medical in the search box at the top of your return and pick "medical expenses, sch a" from the drop down list. Then click on Jump To at the top of the list.

OR
Enter Medical under
Federal Taxes Tab or Personal (for H&B/Self Employed version)
Deductions and Credits
Then scroll way down to Medical
Then Medical Expenses - click Start or Update

You can only deduct the amount of unreimbursed Medical Expenses you actually paid over 7.5% of your AGI. And then all your itemized deductions have to be more than the standard deduction to get any benefit (so you would only be getting the benefit of the amount that puts you over the standard deduction). And since the Standard Deduction is increased more people will not need to Itemize.

For 2022 the standard deduction amounts are:

Single 12,950 + 1,750 for 65 and over or blind (14,700)

HOH 19,400 + 1,750 for 65 and over or blind (21,150)

Joint 25,900 + 1,400 for each 65 and over or blind (27,300/28,700)

Married filing Separate 12,950 + 1,400 for 65 and over or blind (14,350)