Medical Costs on Your Tax Returns
Even with good insurance, people can incur many out-of-pocket
expenses for treatment and follow-up care for cancer.
One way to recoup some of these expenses is to do
an itemized deduction of your medical and dental
expenses on your tax return.1
By keeping track of expenses and deducting qualified items on your
tax returns, you may be able to partially recover some of the out-of-pocket
medical expenses not covered by your insurance.1
As with any tax questions, you should seek the advice of a qualified tax professional prior to making any decisions regarding your tax strategy. You can also visit the IRS website,
to learn more about deducting medical and dental expenses from your taxes.
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The 7.5% Rule
Current tax rules allow you to deduct only the amount of your medical
and dental expenses greater than 7.5% of your adjusted
gross income. If your income is high or your expenses
are low, you might not benefit from an itemized deduction
of medical expenses.2
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1. Health insurance and financial assistance for the cancer patient. American Cancer Society website. Updated June 8, 2009. http://www.cancer.org/docroot/MLT/ content/MLT_1x_Medical_Insurance_and_Financial_Assistance_
for_the_Cancer_Patient.asp?sitearea=&level=1. Accessed May 17, 2010.
2. Topic 502—medical and dental expenses. Internal Revenue Service website. http://www.irs.gov/taxtopics/tc502.html. Accessed May 17, 2010.
Understanding Cancer –
Chemotherapy Side Effects –
Treating Cancer in Other Ways
Tracking Your Test Results –
Understanding Insurance and Tax Issues
Chemotherapy Resources and Organizations –
Register for Programs
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