2007-04-06 06:07:19 · 4 answers · asked by tricky rick 1 in Business & Finance ➔ Taxes ➔ United States
Health Insurance can be a deduction, but it must not be "pre-tax" premiums thru your employer.
If it is not pre-tax, yes you generally can, along with all out-of-pocket paid expenses.
Doctors, Hospital, Prescriptions, Transportation to a medical facility, mileage to all those places. Nursing home costs, medical equipment...
good luck & bless
2007-04-06 07:27:54 · answer #1 · answered by Wood Smoke ~ Free2Bme! 6 · 1⤊ 0⤋
Yes, as a medical expense (schedule A where you get screwed), with the exception that if your health insurance premiums from an employer are deducted on a pretax basis (extremely likely) they are not deductible since you already got the tax benefit. If you are self-employed I think they are deductible as a business expense on schedule C.
2007-04-06 06:14:47 · answer #2 · answered by Anonymous · 0⤊ 1⤋
If you itemize, health insurance is an eligible medical expense. But only medical expenses that are over 7.5% of your AGI can be deducted.
2007-04-10 05:42:39 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
I live in NY and my health insurace is taken out before taxes so I belive your answer to be yes, it is deductable/non-taxable.
2007-04-06 06:15:19 · answer #4 · answered by specdro 2 · 0⤊ 2⤋