Thursday, January 6, 2011

Can you claim out-of-pocket dental expenses when filing your taxes?

I live in MN and though I have dental insurance, it didn't cover all the work I had done this last year. Can I get an old invoice from the dentist's office and claim them???
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If you itemize deductions you can claim medical payments above and beyond 7.5% of your adjusted gross income. For example if your adjusted gross income is $30,000, 7.5% of that is $2,250.00. Your medical expenses are $3,000.00. You can claim the difference of the two, which is $750.00. If your medical expenses are under this 7.5%, you can't claim any of them. I hope this makes sense. Good luck.
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