Introduction to Medical Deductions for Income Taxes

Part of the Video Series Advice for Your Income Tax Deductions

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Learn about some great tips on what medical bills you can deduct from income taxes in this free educational video on about understanding your income tax deductions.

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Introduction to Medical Deductions for Income Taxes
Hi in this segment we're going to talk a little bit about medical expenses your prescriptions, your doctors, your dentist, your medical practitioners, if you have old folks that your taking care of there care givers. We're going to talk about this and tell you what you can deduct on your income tax return. On your prescriptions it's a matter of keeping a record of those items that you get at your drug store and those that are recommended by your physician, in some cases you can take over the counter prescription drugs but they should be recommended by your doctor. Your hospital bill the part that you pay exclusive about your insurance usually that's in the form of copay that is deductible these are the copay that you pay your doctor or if you don't have full insurance the payments that you make to your doctor. If you have older people your taking care of or if you are a senior yourself you can deduct the daycare that you get while your recuperating from illness or your extremely age the extra care that you need to take care of yourself on a daily bases. There's a whole lot more to it but I hope that I in lighting you on a few things about your medical expenses, thank you.

About the Expert

Expert: Tom Choisnet He has been in self-employed tax practice for over 40 years and he has been an enrolled agent since 1968. He has prepared over 35000 tax returns. Read More