Did you know that you may qualify for a tax deduction if you’ve incurred unreimbursed medical expenses that exceed 7.5% of your adjusted gross income? To qualify for the deduction, the expenses must be paid specifically for medical or dental services, prescription drugs, insulin, medical equipment and supplies, medical insurance premiums, transportation needed to get medical care, and other eligible goods and services. The qualifying medical expenses can be incurred by you, your spouse or your dependents. The medical expense deduction is an itemized deduction and is reported on Schedule A of Form 1040. For more information: https://bit.ly/3zDg8C0 or contact us with questions.
Our Blog 