Discussion:Dental Expenses
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Discussion Forum Index --> Tax Questions --> Dental Expenses
| 19 November 2006 | |
| i had about $6,000 dollar in out of pocket dental expenses this year. some of which included a crown, root canal, dental surgery and two fillings (yeah, i let my teeth go and they just kept going!!!). is dental expenses tax deductable on the 1040??? if so, what proof do you need to give to the irs (i.e. receipts, etc.)
thanks!!! | |
| 19 November 2006 | |
| In order to get any benefit at all from medical expenses - they must exceed 7.5% of your adjusted gross income and you must itemize your tax deductions on Schedule A.
Dental expenses are considered medical expenses. For IRS you need to keep copies of both cancelled checks as well as copies of dental bills from your dentist, so they can match the bills with the payments. You don't need to submit these records with the return. Just keep them handy should you be audited. | |
| 19 November 2006 | |
| Medical expenses such as dental work (but not cosmetic dental work) paid for during the tax year are generally deductible, assuming you itemize your deductions and can get past the "7.5% of AGI" limitation. Basically, you have to calculate your adjusted gross income, and take 7.5% of that. If you itemize, then your deductible medical expenses are the amount that exceed the 7.5% of AGI amount. You should keep your receipts, but you don't have to send them in to the IRS unless they ask during an examination. | |
| 20 November 2006 | |
| Suggestion - if you are near or over the 7.5% hurdle, all additional medical expenses will be deductible. So if you have any other medical or dental expenses which will not be covered by insurance that you may be planning for after year end, you should hurry up and get them done and paid for before year end to make them deductible. Otherwise, if you pay those expenses in 2007 you may lose their deductibility due to the 7.5% hurdle. | |
| 21 November 2006 | |
| by the way, is it true that i can only deduct the amount of expenses paid over and above the 7.5% of my agi? | |
| 21 November 2006 | |
| For medical expenses that is correct. Your dental costs are part of your total medical expenses. | |
Bottom Line (talk|edits) said: | 21 November 2006 |
| That's right and you have to itemize to do it. | |
| 21 November 2006 | |
| Even if medical expenses do not exceed 7.5% I would still do the medical expense worksheet and include on schedule A calculation portion. I say this because some states allow the deduction. | |
Death&Taxes (talk|edits) said: | 21 November 2006 |
| New Jersey's limit is only 2% of income, and it is a separate deduction since NJ does not follow the Federal return. | |
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