Q: I entered my medical expenses, so why am I not getting the medical expense deduction?
A: Several factors could cause you to not be able to take the medical expense deduction. In order to get the deduction, you must itemize deductions, have qualifying medical and/or dental expenses that exceed 7.5% of your adjusted gross income, and have not already received reimbursement for those costs through a health insurance plan or other sources during the year, such as a health savings account. You can learn more about deducting medical expenses in IRS Publication 502.
Q: Can I deduct my parents’ medical expenses if I help them out financially?
A: If you can claim your parents as dependents on your federal income tax return, you may be eligible to deduct their medical expenses. Medical costs you paid for a qualifying dependent may be considered qualifying medical expenses if the person was your dependent either at the time the medical services were provided or at the time you paid the expenses. You will also have to meet other criteria for claiming a medical expense deduction. If you don’t claim your parents as dependents, you won’t be able to claim their medical expenses as a deduction. To learn more about claiming dependents, read IRS Publication 929. To learn more about deducting medical expenses, check out IRS Publication 502.