Medical and Dental Expenses (ASL) - YouTube video text script
Hi, I’m Patrick and I work for the IRS.
If you have a lot of medical or dental bills, you may be able to deduct some of them on your tax return.
Keep in mind, you will need to itemize your deductions in order to do so.
In other words, if you fill out one of the short forms, either a 1040A or 1040EZ, you won’t be able to claim any of your medical expenses.
There are a couple of steps to figuring out whether you can claim any of your medical expenses.
Here are the steps.
Step One is to add up all your medical and dental expenses.
You can include expenses you paid for yourself, your spouse or a dependent, such as your child.
Be sure to count any medical expenses you paid during the year.
Usually what counts is the date you paid an expense, not the date when the medical service was received.
Expenses that qualify include co-payments and unreimbursed amounts for prescriptions, doctor visits and procedures.
You can also include some insurance premiums, medical supplies, medical-related mileage and transportation costs.
And now you can also include breast pumps and breastfeeding supplies.
Step two is you need to see if your total expenses are more than 7.5% of your adjusted gross income.
If they are, you can deduct the portion of your expenses that exceeds 7.5%
So, for example, if your income is $50,000, you can only claim the portion of your medical expenses that is more than $3,750.00.
And be sure to keep all your receipts.
Find out more about what expenses qualify in our Publication 502, which is called Medical and Dental Expenses.
Download it at IRS.gov