* Your total qualified, unreimbursed medical and dental expenses (including premiums and costs like co-pays, deductibles, prescription medications, etc.) must exceed 7.5% of your Adjusted Gross Income (AGI).
* You can only deduct the amount of expenses that exceeds this 7.5% threshold.
* You must choose to itemize deductions instead of taking the standard deduction.
Most taxpayers use the standard deduction as it is often larger than their total itemized deductions.
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It's complicated. From google:
* You must pay the premiums with after-tax money.
* Your total qualified, unreimbursed medical and dental expenses (including premiums and costs like co-pays, deductibles, prescription medications, etc.) must exceed 7.5% of your Adjusted Gross Income (AGI).
* You can only deduct the amount of expenses that exceeds this 7.5% threshold.
* You must choose to itemize deductions instead of taking the standard deduction.
Most taxpayers use the standard deduction as it is often larger than their total itemized deductions.