Deductibility of Medical Expenses

“I’ve been sick this year.  How do I know if my medical expenses are deductible?”

Only qualified expenses in excess of 10% of your Adjusted Gross Income (7.5% for those 65 and up) are deductible.  Here is a list to help determine deductible and non-deductible medical expenses:

Deductible Medical Expenses are medical expenses to prevent, diagnose, or treat an illness and include:

·         Physician Services

·         Prescription drugs/Prescription weight loss drugs

·         Costs for weight loss programs required by a physician

·         Contact lenses and Laser eye surgery

·         Insurance premiums paid out of your pocket including Medicare A & B

·         Long term care premiums

·         Medical equipment and supplies

·         Chiropractic care

·         Dental visits and dentures

·         Psychological care

·         X-rays

·         Travel to and from medical appointments at IRS medical mileage rate

·         Laboratory fees

·         Certain home-health care costs

Non-deductible Medical Expenses include:

·         Over the counter drugs

·         Elected cosmetic surgery

·         Teeth whitening

·         Treadmills and gym memberships (unless required by a physician for a medical condition)

·         Funeral costs

·         Reimbursed medical expenses

·         Pre-tax employer sponsored insurance coverage

Whose medical expenses can I deduct?

You can deduct expenses for yourself, your spouse and any dependents.  Feel free to get additional information online at www.irs.gov/taxtopics.