Monday, May 17, 2010

Can medical / dental insurance costs including premiums paid PRE-TAX be tax deductible?

Can dental / health insurance premiums paid pre-tax and deducted from my paycheck be considered in itemized deduction?

Can medical / dental insurance costs including premiums paid PRE-TAX be tax deductible?
yes they can, any medical expense including ones from your pretaxed income, can be added on the scedule a. the only exception would be if your employer paid for the insurance. if you pay for it, you can include it. i am a tax preparer and i am sure of this. now the only limit would be getting you over the thresehold of %2 of your agi.
Reply:i said 2% but i meant 7.5$ threshold. thanks Report It

Reply:i said 2% but i meant 7.5% threshold. thanks Report It

Reply:Bootleg, you may want to check your answer. IRS instructions for Schedule A say that pre-tax insurance premiums are NOT deductible on Schedule A because the premiums were not included in "Wages" on the W-2 since they are "pre-tax". Report It

Reply:No, if they were taken pre-tax you've already gotten the deduction - you aren't allowed to double-dip.
Reply:sorry, nope
Reply:nope


read this it Pub 502
Reply:If they were paid pre tax they were already pre deducted. You can't double dip.


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