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Can You Get Tax Deductions for Dental Procedures?
The new year is here, which means another year of taxes to prepare and file by April 15th! If you qualify, you’ll be happy that some of your dental expenses can be deducted when you file your income tax return. Because we value our patients’ time, we’ve put together this handy guide that will help you know which dental expenses the Internal Revenue Service will allow you to claim.
- You Can Deduct Only If You Itemize
- The Eligible Amount Depends on Income & Insurance
- Not All Dental Services Are Tax Deductible
- Save Your Transportation-Related Receipts
You may be able to deduct dental care expenses you paid last year for yourself, your spouse, and your dependents if you are eligible to itemize your deductions for a taxable year. This means you can’t deduct dental/medical expenses if you take the standard deduction. Additionally, those expenses must have been paid, either in person or by mail, during the calendar year.
For 2017 and 2018, you may deduct only the amount of your total dental/medical expenses that exceeds 7.5% of your adjusted gross income. If any of your expenses were reimbursed by insurance, your expenses must be reduced by the amount of the reimbursement. For future reference, keep in mind that for 2019, dental/medical expenses must exceed 10% of your AGI to be eligible for deduction.
Only medically necessary dental treatments are deductible, such as teeth cleanings, sealants, fluoride treatments, X-rays, fillings, braces, extractions, dentures, and dental-related prescription medications. Cosmetic procedures (like veneers and teeth whitening) and non-prescription medicines are not tax-deductible.
Many of the transportation expenses to and from your appointments are tax deductible. This not only includes public transportation fares, but also the expenses of driving your own vehicle, including gasoline, parking, tolls, and the standard IRS mileage rate.
We Want to Help You Smile!
Do you have any questions regarding our services or our payment options? Would you like tips to have superb oral health? We are here to help address all your dental-related concerns. If you are experiencing any dental discomfort or if it’s just time for your biannual checkup, contact us to schedule your next appointment. Be sure to take advantage of our $95 new patient special for an exam, X-rays, and a cleaning.