Tag Archive for Deducting Medical and Dental Expenses

Deducting Medical and Dental Expenses

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It is very important that you keep adequate records of all your medical and dental expenses incurred, because if you incurred substantial expenses, you may be entitled to claim a deduction on your tax return. You can deduct medical expenses for yourself, your spouse, and all your dependents on your tax return. It is very important to note, however, that you can deduct these expenses only to the extent that they exceed 10% of your adjusted gross income. (For taxpayers 65 and older, up to tax year 2016, they can deduct expenses that exceed 7.5% of their income).

Deductible medical expenses include the following:

• Doctors, dentists, and other medical practitioners’ fees. Read more