Monday, February 7, 2011

Are health insurance premiums and medical bills tax-deductible?

I am self-employed and paid my own health insurance. Also, I had other medical bills not covered by my insurance company. Are either (health premiums or medical bills) tax-deductible?
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If the health insurance is "through your business" you can deduct it on the front of your 1040. The remaining medical expenses go on schedule A--only useful if they exceed 7.5% of your income and you already itemize....
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