Medical costs can add up, depending on the treatments you get and how often you need medical care. Even if you have insurance, you’ll probably have expenses you need to pay for out of pocket.
The IRS allows certain taxpayers to save money on their tax return by deducting qualified medical and dental expenses, such as:
- Prescription contact lenses
- Prescription eyeglasses
- Prescription medications
- Root canals
- Teeth cleanings
- Visits to healthcare providers and dentists
It’s important to consult with a tax professional to get a better idea of what medical expenses you can deduct. It’s easy to overlook less common expenses that may also be tax deductible.
How do I claim medical expenses on my taxes?
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If you had Marketplace coverage at any point in 2023 and got the premium tax credit, here’s what you need to know about filing your federal taxes.
When it comes to living a long and healthy life, finding and treating health conditions at an early stage is key. Alongside a healthy lifestyle and regular checkups, screening tests offer people the best chance to thrive at any age. 