07March
Are my dental expenses tax deductible?
It’s almost tax time! Everyone wants to save as much on their tax bill as possible. Some good news is that YES, YOU CAN CLAIM DENTAL EXPENSES ON YOUR TAXES. But there is some fine print:
Items you can deduct
- dental appliances, including dentures, mouthguards, and retainers
- dental expenses for you and all dependents, including spouse and children
- prescription medications related to your dental visits
- any travel expenses related to your dental care
Items you can’t deduct
- cosmetic procedures (the deduction is for medically necessary procedures only)
- anything that’s already tax-deductible (paid with HSA or flex spending)
- non-prescription medication
Income Limits
- these qualified dental & medical expenses that exceed 7.5% of your adjusted gross income may be deducted.
- For example, if you have an adjusted gross income of 50,000, expenses exceeding $3,750 (7.5% of 50,000) could be used as a medical expense deduction
Save those receipts! In order to deduct expenses, you need your receipts. If you are having trouble finding your receipt, be sure and contact your dental office. If you any detailed questions, be sure to ask your tax advisor. If you are needing a copy of your receipts from our office, or have any questions, contact us and we’ll do our best to help you out!