Flowers are blooming and so are your tax papers. As you rush to submit your taxes, slow down to ensure you get all of your entitled deductions.
According to the IRS, “prevention and alleviation of dental disease,” is included in medical deductions. If you’re itemizing your deductions, remember that dental expenses are treated like medical expenses, so include your root canals and crowns too. First, add up your medical and dental costs to determine if they exceed 10% of your adjusted gross income (for most people). If so, you can deduct the portion above 10%.
What do you get to deduct?
• Preventive treatment: Standard dental procedures, like teeth cleanings, sealants, and fluoride.
• Treatment to alleviate dental disease: X-rays, fillings, braces, extractions, dentures, crowns and root canals.
• Mileage to your dentist for you and/or your dependents
What can’t you deduct?
• Cosmetic procedures, such as teeth whitening, cannot be deducted.
Check your medical/dental expense percentage before you deduct them. And remember – you can’t double dip. If you used a Flex spending account, you cannot claim that on your taxes.
Want to learn more? Watch this short video from the IRS’ YouTube Channel.
While you may have deductions surrounding your dental costs, this article is not specific to your personal financial situation. Please seek professional advice based on your particular circumstance.