Medical expenses are deductible only to the extent they (1) exceed 7.5% of the taxpayer’s adjusted gross income, and (2) are not compensated for by insurance or otherwise.
Medicine and drugs are included as medical expenses only if they are a prescribed drug or insulin. Medical expenses include health insurance costs, transportation primarily for and essential to medical care, and expenses for the diagnosis, care, mitigation, treatment or prevention of disease. In addition, certain long-term care insurance premiums are included. Medical expenses for dependents under age 21 and one’s spouse are also allowable.
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