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As you prepare your income tax returns, take a close look at medical expenses. Premiums for health insurance are deductible as part of your medical expenses. Rising health care costs and premiums could be enough to push you over the 7.5% of AGI threshold.

Especially if you are already itemizing deductions (usually for homeowners in high property tax states), the medical deduction can come into play for you.

See Sch A part 1 of Form 1040 or Pub 17 (Your Income Tax), both available for download from irs.gov, for details.
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