You may be able to deduct premiums you paid for medical and dental insurance, but only if you paid them with your own after-tax money.
Common examples of medical and dental insurance include:
- Health insurance premiums
- Dental insurance premiums
- Medical service plans
- Hospital insurance plans
- Prescription drug coverage
- Medicare premiums (if paid with after-tax dollars)
When You Can Claim the Deduction
You can claim medical and dental insurance premiums if:
- You purchased the insurance yourself, and
- You paid the premiums out of pocket with after-tax dollars
When You Cannot Claim the Deduction
You cannot deduct insurance premiums that were:
- Deducted from your paycheck on a pre-tax basis through an employer-sponsored plan
- Paid by your employer
- Already used to claim a self-employed health insurance deduction
Self-Employed Health Insurance
If you're self-employed and claimed a self-employed health insurance deduction, reduce the amount of insurance premiums entered here by the amount already claimed. You can't deduct the same premiums twice.
Keeping track of how your premiums were paid is important. If you're unsure whether your insurance was paid with pre-tax or after-tax dollars, check your pay stubs or benefits information before claiming the deduction.