I paid $1134.12 in AFLAC Insurance payments and $296.40 in Dental Insurance payments and I was wondering if I could deduct this from my tax return as Medical Insurance payments? I dont want to get into trouble by doing this if I cant. It would help me out alot though on my return :)
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What kind of AFLAC insurance do you have? Is it some kind of *medical* insurance? (AFLAC sells a lot of different insurance products, not all of them are medical). You can definitely include the dental insurance premiums, because dental is considered "medical" by the IRS. Check publication 502 to see what's deductible: http://www.irs.gov/pub/irs-pdf/p502.pdf You do know that you can only deduct the amount of your medical expenses that are *more than* 7.5 percent of your adjusted gross income, right?
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