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Submitted 276 days ago...

anony

anony

New User (2)

Medical premiums tax deductible if I pay for them? I am self-employed and pay out of pocket

I've been told by a tax preparer that I can't deduct my medical premiums that I pay out of pocket. Is this true?

 
 
 
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Submitted 276 days ago...

Jodi-Mesa

Jodi-Mesa

Brain (2,795)

Here this should help:

http://www.webanswers.com/taxes/personal-taxes/are-medical-insurance-p remiums-deductable-d64c17

Medical premiums are tax deductible IF you are going to itemize instead of taking the standard deduction and if your medical expenses are over 7.5% or your gross annual salary. I have a feeling the reason that you can't deduct them is that your total medical expenses are less than 7.5% of your salary. I hate that rule. Do you think that is what he is referring to?

 
 

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