Could you not write of all medical to the fed in the past.

[Zeke 5,504]

Jus insurance now? Am I mistaken?

No copays, no meds etc?

[NickySantoro 211]

I "believe" that you can only deduct that portion that is in excess of a certain percentage of your AGI. Not a CPA so wait for someone who knows to come along.

[Howard 538]

You can only itemize medical that is over 7.5% of adjusted gross, has been that way for years. Insurance is only deductible if you are self employed.

[Zeke 5,504]

You can only itemize medical that is over 7.5% of adjusted gross, has been that way for years. Insurance is only deductible if you are self employed.

Hmmn.

Thank you

[leadunderpressure 52]

You should note however that you can deduct medical expenses over 2.5% of agi from your NJ return.

 

Get a good accountant. It's worth it.

[GRIZ 3,369]

You can only itemize medical that is over 7.5% of adjusted gross, has been that way for years. Insurance is only deductible if you are self employed.

You can deduct insurance premiums you pay even if you're employed by someone else. That would include Medicare B, C, and D premiums if you're over 65. I think if you're over 65 the percentage goes down to 5%.

 

You can deduct copay for doctors, procedures, prescriptions, medical equipment, and mileage for going to any of those.

[YankeeSC 1,204]

You can deduct insurance premiums you pay even if you're employed by someone else. 

 

I believe that's only when they are not taken out of your paycheck pre-tax.

[Howard 538]

You can deduct insurance premiums you pay even if you're employed by someone else. That would include Medicare B, C, and D premiums if you're over 65. I think if you're over 65 the percentage goes down to 5%.

 

You can deduct copay for doctors, procedures, prescriptions, medical equipment, and mileage for going to any of those.

Are you sure about the insurance? I thought you could only write off insurance if you are self employed or have a business that files a schedule

C. I will admit I have been wrong once or maybe twice before . This could be another example why it is bad to get legal or accounting advice on the internet.

 

 

Guess this is the answer:

 

http://www.healthedeals.com/articles/are-health-insurance-premiums-deductible

[GRIZ 3,369]

Are you sure about the insurance? I thought you could only write off insurance if you are self employed or have a business that files a schedule

C. I will admit I have been wrong once or maybe twice before . This could be another example why it is bad to get legal or accounting advice on the internet.

Guess this is the answer:http://www.healthedeals.com/articles/are-health-insurance-premiums-deductible

Premiums paid with pre-tax dollars are not deductible. They should already be deducted from your taxable income. Premiums paid with post tax dollars are deductible. For example if you're on Medicare and have a private policy to cover B,C, and D you pay out of pocket that's deductible. If you pay for any medical insurance out of pocket it's deductible.

 

Not really legal advice, read the instructions from IRS.

[Zeke 5,504]

Ins is through wife's employer as I'm self employed. Premium is pre tax.

Thanks to o care our insurance finally sucked last year. State does allow deductions of copays.

I never paid attention with fed, but copays went up 1000% last year for us.

Thank you for your response '

We do utilize our accountant.

 

 

I really hope they fix this mess.

Looking like Tennessee is going to be first to fall.