Can Anyone Tell Me If The Medical Portion Of My Auto Insurance & House Insurance Is Deductible On Sch A?
I have enough medical expenses to meet the 7.5% AGI figure on my Sch A. Since I’m able to deduct medical this year, I was wondering if I can deduct the medical portion on my car insurance and house insurance?
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February 19th, 2010 at 8:14 am
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February 19th, 2010 at 2:11 pm
No, because those medical insurance premiums are not necessarily for medical treatment of you or your dependents. They cover other people as well.
February 19th, 2010 at 5:23 pm
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February 19th, 2010 at 5:27 pm
In short, no you can’t. Those deductions are for medical expenses and while there are situations where medical insurance payments can be deductible, other types of insurance cannot normally be deductible. If you had to pay a deductible or coinsurance/copay on claims associated with those plans they MAY be deductible on your taxes. I would advise you ask a tax professional for more details, or provide the state in which you live as tax laws differ on the state level.
February 19th, 2010 at 8:37 pm
No, the medical portion of auto or homeowner’s insurance are not qualified as a medical expense deduction on your Sch. A, itemized deductions.
Laura H – H&R Block – Senior Tax Advisor 5
**This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.
February 20th, 2010 at 2:05 am
ONLY if it is paid with Post-tax dollars, which is usually NOT the case, is your medical insurance deductible. ONLY expenses ABOVE the 7.5% AGI are deductible. It’s a high threshhold.
Car and house insurance are NOT deductible on schedule A. Mortgage interest and real estate taxes are.
February 20th, 2010 at 5:36 am
No. Those are not your “medical expenses.” They are insurance premiums.
February 20th, 2010 at 7:02 am
None of it.