Dental Insurance Principal Dental Insurance Premiums Tax Deductible

Health insurance dental insurance long term care insurance and supplemental insurance such as medicare part b and medicare part d all count.

Dental insurance how it works dental insurance in washington state. For cost and coverage details contact your principal representative. For example say your dental insurance premiums plus your other qualifying expenses for the year total 5000. Only the amount of medical expense itemized deductions that are more than 10 of your adjusted gross income under 65 or 75 65 or over are deducted.

This is an overview of the benefits dental insurance provides but there are limitations and exclusions. As a reminder on this deduction only premiums paid with after tax dollars count. Your health insurance premiums can be tax deductible if you are self employed.

If you are paying for your own dental insurance you might be able to take advantage of the deduction for medical and dental premiums and expenses on your taxes. The short answer is yes. Oregon policy gc 7100 1 0415.

Be aware though that the insurance premium may not provide any tax benefit. Yes as stated by the irs for the self employed health insurance deduction the deduction is for medical dental or long term care insurance premiums that self employed people often pay for themselves their spouse and their dependents. For more information about tax deductible medical expenses see irs publication 502 medical and dental expenses.

For most taxpayers the cost of medical and dental insurance premiums paid during the tax year are deductible on form 1040 schedule a as a medical and dental expense. Medicaldental insurance premiums that you pay out of pocket with after tax money are deductible medical expenses. For the tax year 2019 the irs considers an hdhp an individual insurance policy with a deductible of at least 1350 or a family policy with a deductible of at least 2700.

If your adjusted gross income in 2013 is 50000 or more you wont be able to deduct.