Itemized deduction from gross income: medical expenses?

Question

Is the co-payment a medical expense and could be deducted from my income for tax filing?

It is $20 for each visit...

Thanks~

Answer 1

Co-payment is medical expense, but it needs to be reported on Schedule A - Itemized Deductions - line 1 - medical & dental. And the total medical deductions need to exceed 7.5% of AGI for the excess to be deductible, and you need to itemize to get any benefit from the medical deduction.

Answer 2

Yes, it is a medical expense, but it is going to take a lot of visits for $20 each to add up to enough to exceed the %age of income that needs to be spent on medical expenses before any can be deducted.

Answer 3

No it cannot be directly deducted from your income for taxes.

You get either a standard deduction or an itemized deduction. If you take a standard deduction ($5,350 for single) you cannot take an itemized deduction.

You get to deduct medical only if you take itemized deductions, and only to the extent your medical expenses exceed 7.5% of your adjusted gross income. For most persons, this results in no medical deductions.

Answer 4

Yes, copayment is a medical expense for tax purposes. You can only deduct the part of your medical expenses that is over 7.5% of your adjusted gross income, and then only if you itemize.

Answer 5

Yes, as long as your overall medical expenses go over 7.5% of your AGI. You can also deduct prescription copays.

Answer 6

your total med expenses have to be more than 7.5% of your AGI and you have to itemize deductions to get any benefit - if all you have is the $20 doctor visits, you won't get any tax benefit from them

Answer 7

Yes, but only to the extent that your total cost are above 7.5% of your income.