Medical Expenses

Insurance premiums and unreimbursed expenses paid for long-term care are deductible as a medical itemized deduction. There are limitations on the annual insurance premiums paid. For 2013 If Age 40 or under the maximum allowed deduction is $360 If Age 41-50 the maximum allowed deduction is $680 If Age 51-60 the maximum allowed deduction is $1360 If Age 61-70 the maximum allowed deduction is $3640 If Age 71 or older the maximum allowed deduction is $4550