Braces and tax deductions

[Snowglobe32]

Hi,

I have been researching whether or not I can deduct my dental expenses on my taxes. So far it looks like I can (I will consult with a tax professional regardless). I wanted to know if anyone has done this and was it hard to figure out?

Thanks!

[hanzie]

good question, i wish i could i will give it a try

[BracketRacket]

I would assume that if you itemize deductions, it would qualify as medical costs. Just IMHO, I would definitely check for sure!

[Jewles]

What country are you in? In Australia you can claim braces. I got well over $1000 back on mine

[TumbleDryLow]

If you are in the US then yes, if you itemize, you can claim braces as a medical expense. However, I think you can only deduct total medical expenses that exceed 7.5% of your adjusted gross income. My advice would be to buy TurboTax. It's very easy to use and walks you step by step though the complicated world that is tax law.

[Snowglobe32]

I am in the US.
From what I have found out, you can claim braces (cleanings also!) if you itemize. You can only claim up to 7.5% of your gross. Which for me, won't be a problem. Now, figuring out the difference between itemizing or taking the standard deduction is another problem to solve.

[alissataylor0214]

So what if you did not pay in full for your braces? Do you only itemize what you have paid on them for the year? Sorry if that is a really stupid question, im 25 and this is the first year I will be doing my taxes myself Thank goodness for turbo tax!

[TumbleDryLow]

So what if you did not pay in full for your braces? Do you only itemize what you have paid on them for the year? Sorry if that is a really stupid question, im 25 and this is the first year I will be doing my taxes myself Thank goodness for turbo tax!

You can only deduct actual expenses paid from 1-1-2010 thru 12-31-2010.

[alissataylor0214]

So what if you did not pay in full for your braces? Do you only itemize what you have paid on them for the year? Sorry if that is a really stupid question, im 25 and this is the first year I will be doing my taxes myself Thank goodness for turbo tax!

You can only deduct actual expenses paid from 1-1-2010 thru 12-31-2010.

Great, thank you!!!

[musiclady2340]

Wow, this is helpful news. Never considered it as a medical dedu ction. Thanks.

[plugnickel69]

In the US you can deduct medical expenses above 7.5% of your AGI, adjusted gross income. If your AGI is $100,000 then your braces and other medical expenses will have to be more that $7,500 during the tax year before you can deduct a penny. If you AGI is significantly lower then it could well be worth the deduction. For example, if your AGI is $20,000 then any medical costs above $1500 for the year would be deductible.

Spreading out your payments over multiple years makes it more difficult to obtain the deduction.

A flexible spending account or FSA is a much better way to go, but the election must be made before the tax year and your employer has to have the provision available. Maximum per year is $5,000. It is possible for both spouses to have an FSA.

The following website might help: http://www.irs.gov/publications/p502/ar ... 1000178856

[Neya]

Just remember you cannot do both; FSA and then claiming for deductions!

[drgnchsr36]

Just remember you cannot do both; FSA and then claiming for deductions!

Thanks, that was exactly what I wanted to know.

I'm happy with the FSA! Although, it's so slow to get reimbursed. Ugh. I hope it's not like this the entire year.