Can I deduct medical, dental, and vision expenses?
You can if you itemize and the total expenses for you, your spouse, and your dependents exceed 7.5% of your adjusted gross income. The deduction is limited to the expenses above and beyond this amount.
For example, if you're 48 years old with an AGI of $50,000 and you incurred $4,750 in medical and dental expenses last year, you could deduct $1,000 (the amount in excess of 7.5% of your AGI, or $3,750), assuming you're itemizing.
You won't be able to deduct your expenses on your federal return if you're taking the standard deduction, which about 2/3 of all taxpayers do.
However, don't let that stop you from entering all your medical-, dental-, and vision-related expenses anyway. Some states will still let you deduct these expenses even if you weren't able to deduct them on your federal return. The expenses must not have been reimbursed (paid back) by your insurance company.
We’ll figure it out for you! Just enter your medical-, dental-, and vision-related expenses, and we’ll determine the best way to handle these expenses.
This article has been revised to account for the new tax laws signed into effect in December 2017. This is one of a few areas affected for the 2017 tax year.