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Old 03-11-2009, 03:03 PM
sawscjs
 
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deduct health insurance premiums from rental income

can we deduct health insurance premiums from rental income? thank you



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Old 03-12-2009, 01:40 AM
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No, a taxpayer may not take a deduction for medical expenses against his or her rental income generated on a schedule E. The Medical expenses are generally reported on Schedule A, but in order for these expenses to be deductible they must exceed 7.5% of the taxpayers adjusted gross income!

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