Question

I am a dentist can I deduct my malpractice insurance? If so how? Thank you

Forum|Forum|7 years ago
June 5, 2019
1 reply
0 views

No text available

TurboTax Deluxe Online

Yes, you may include the cost of malpractice insurance in one of two ways:

1. If you are an employee (W-2), include this cost under Job-Related Expenses in the Deductions & Credits section.

2. If you are self-employed (Schedule C), include this cost under Insurance Expense.

You can find either section using the Search box in the TurboTax header. Type in the topic you need, then click the link to go to the start of that section.

In addition:

If your miscellaneous itemized deductions clearly don't exceed 2% of your adjusted gross income there is no need to go through the time consuming effort to enter them. If they are over 2%, under the deductions and credits tab at the bottom of the list under other deductions and credits. Look for other deductions.

For employee business expenses look under Federal Taxes, then Deductions and Credits, then Explore on My Own, then Employment Expenses (near the bottom.)