Are you itemizing your deductions in your individual income tax return? Consider deducting medical and dental expenses you paid for yourself, your spouse and your dependants. You can deduct the amount of total medical expenses that exceeds 10% of your adjusted gross income. So if you have paid to doctors, dentists, surgeons, chiropractors, psychiatrists, and psychologists you can deduct the amount in your form 1040. Also if you have been hospitalized, you can deduct payments for in-patient hospital care including cost of meals and lodging charged by the hospital. If you participated in smoking cessation program, you can deduct payments to center for alcohol or drug addiction. Remember payments to participate in a weight loss program are allowed but payments for diet foods and payments to health club are not allowed. You can deduct payments for insulin and payments for drugs that require prescription. You can also deduct payments for false teeth, reading glasses, contact lenses, hearing aids, crutches, wheel chairs and also for guide dogs for the blind and deaf. Remember transportation expenses are also allowed if they are paid essentially for medical care. Consider checking the standard mileage rate for medical expenses. Also, insurance premiums you paid for policies qualify too. But remember a premium paid by employer does not qualify. However if premiums are included in your wages, tips and other compensation you can deduct them too. Consider checking box 1 in your Form W2. But be cautious, if you are self employed, you may be eligible for self employee health insurance deduction which is an adjustment to income and not itemized deductions. Remember, you can include the medical expenses you paid in during the year and you should reduce the expenses by any reimbursements while figuring out deductions. Consider checking can I deduct my medical and dental expenses interview on IRS website for additional information
