Deducciones y Créditos de Impuestos What Medical Expenses Can I Deduct? Leer el artículo Abrir el cajón compartido Escrito por Elle Martinez Publicado Dic 8, 2011 - [Updated Feb 27, 2020] 2 minutos de lectura As the new year is approaching, my husband and I are getting our paperwork organized. It’s been an eventful year with the birth of our daughter and I’m amazed at how much our little one is costing. One positive spin is that medical expenses can be deducted on our taxes. Whose Medical Expenses Can You Deduct? Generally speaking you can deduct your medical expenses, your spouse’s expenses, or your dependent’s (such as a qualifying child or relative) if you itemize your tax deductions. What Medical Expenses Can I Deduct? Please keep in mind that you can only claim the amount of your medical expenses that exceeds 7.5% of your adjusted gross income. Let’s say your AGI is $35,000. If your medical expenses for the year were $2,700 then you can deduct your expenses that were greater than 7.5% of your adjusted gross income. However, if your medical and dental expenses were only $1,750 then you could not claim any, as they didn’t meet the requirement. The IRS has a huge list of medical expenses that you can deduct. Some common ones I think many people use include: Ambulance/Transportation Annual Physical Exam Breastpump Chiropractor Dental Treatment Insurance Premiums Medicine Psychologist For the entire list and detailed explanations, please check out our Medical Expense Checklist. I think most people will be able to find qualifying medical expenses they’ve had this past year. Please note that you can only deduct expenses that you’ve paid to treat, alleviate, or prevent a physical or mental illness. My Family’s Medical Expenses This Year After reviewing the IRS list of eligible expenses, I saw that my family has some medical expenses we can deduct. They include: Breastpump: We just had our baby girl this year and I’m breastfeeding so the pump has become handy. Contact Lens/Eyeglasses: I have both contacts and eyeglasses for my nearsightedness. Glad to see I can get a tax deduction for them. Some Medical Insurance Premiums: Only the ones that are not a pre-tax deduction from my income. Laboratory Expenses: The blood-work I had done while I was pregnant is an eligible medical expense. Medicines: The medicine my doctors prescribed are included. Physical Examinations: I get my checkups annually to make sure everything is in check. I’m really happy to see that we have medical expenses that are on the tax deductible list. Maybe we’ll get a good size tax refund; we’ll see. What medical expenses are you going to deduct when you file your taxes? What has been the biggest expense? What expense surprised you? Publicación anterior Is This Tax Deductible? Medical Expenses Siguente publicación Siete gastos extravagantes que la gente ha deducido Escrito por Elle Martinez Elle helps families at Couple Money achieve financial freedom by sharing tips for reducing debt, increase income, and building net worth. Learn how to live on one income and have fun with the second. Más de Elle Martinez Visita el sitio web de Elle Martinez. Síguenos en Facebook. Síguenos en Twitter. Los comentarios están cerrados. Buscar artículos relacionados Planificación de Impuestos ¿Qué es una cuenta HSA? Planificación de Impuestos 5 maneras de aumentar tu reembolso de impuestos del añ… Planificación de Impuestos ¿Debería enmendar mi declaración de impuestos por un… Vida Cómo solicitar una extensión: Guía paso a paso Ingreso Instrucciones para el Anexo (K-1): Cómo presentar en 1… Planificación de Impuestos ¡Aún puedes presentar tus impuestos con TurboTax! Trabajo Cómo presentar los impuestos de pequeñas empresas Vida ¿Qué es una exención personal? ¿Deberías usarla? Ingreso Edad para hacer retiros de una cuenta IRA Vida Pago de impuestos en exceso: todo lo que debes saber