Dawn in VA
Frequent Contributor (1K+ posts)
Member # 9693
posted
I have always filed my own taxes as they've never been too complicated.
I read that you can claim medical expenses if they're over $2500. Is this right? This is over my head in the current "DIY" section of my brain.
Does anyone have advice about how to do this? I don't even know which form to grab!
I would rather do it myself instead of spending the bucks to hire someone.
Thanks!
-------------------- (The ole disclaimer: I'm not a doctor.) Posts: 1349 | From VA | Registered: Jul 2006
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sometimesdilly
Frequent Contributor (1K+ posts)
Member # 9982
posted
you might want to google "Turbo tax".
Turbo is a free program that will take you step by step through tax preparation. you don't have to do the whole program, and you don't to file that way, but it is an easy to understand way to get through some of the tax thicket on your own.
as i remember there is no standard amt that you have to meet to deduct med expenses; rather, there is a percentage of your net (or gross?) income that med expenses must exceed for you to qualify.
depending on your circumstances, the threshold might be easier to meet than you think. you can include all meds, dr visits that were not covered by insurance, travel (by car only, i think) to dr visits and the cost of hotels, but only 50 dollar or so per night. dental visits and care, and the cost of glasses etc. can be thrown in as well.
if you are already claiming deductions and your med expenses are high, you should definitely do what you can to get them deducted.
and ps- you do NOT need to have all your receipts in hand to file, but you should shoot for a good estimate by category of expense. Your pharmacy and insurance company and dentist/drs. should be able to provide you round numbers over the phone..
hope that helps- dilly
Posts: 2507 | From lost in the maze | Registered: Aug 2006
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cantgiveupyet
Frequent Contributor (1K+ posts)
Member # 8165
posted
go to irs.gov you can do a search there for medical deductions and they will tell you what you can deduct. The IRS site is very helpful. You can also call there phone line for help.
I believe the medical deductions are on Schedule A and they need to be more than 7.5% of your adjusted gross income.
-------------------- "Say it straight simple and with a smile."
"Thus the task is, not so much to see what no one has seen yet, But to think what nobody has thought yet, About what everybody sees."
-Schopenhauer
pos babs, bart, igenex WB igm/igg Posts: 3156 | From Lyme limbo | Registered: Oct 2005
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bettyg
Unregistered
posted
don't forget all your medical miles as well!!
out of state lodging costs
out of state miles/local miles going to dr/hospital/pharmacy
last year when i had my hip replacement surgery and all expenses/meds, etc; ALL our expenses could NOT be used for deductions due to 7.5% !!! that's why we hire someone to do our complicated ones...
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I do my own taxes using turbo tax like suggested and since I live in such a rural area we always make the 7.5% of adjusted gross income and always are able to deduct medical expenses.
Betty is right - those miles add up.
You can also deduct stuff like over the counter allergy medicines, contact lens solution, etc.
Check out the irs.gov site for a full list of all medical expenses that are deductible.
Good luck!
Posts: 11 | From Upstate, NY | Registered: Jan 2008
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Dawn in VA
Frequent Contributor (1K+ posts)
Member # 9693
posted
I just gotta say it...
You guys ROCK!
Thank you for the information about taxes and such. I had no idea one could itemize travel expenses, or that turbo tax was free. Am going to do all of the above.
Thanks all. -D.
-------------------- (The ole disclaimer: I'm not a doctor.) Posts: 1349 | From VA | Registered: Jul 2006
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From what I understand, the IRS does not consider vitamins and supplements to be medical expenses UNLESS prescribed by your doctor.
Do you know if there's a form letter or template that can be used to document that OTC supplements have been "prescribed"? I know we'd be over the 7.5% limit if we could count my husband's umpteen supplements!
Thanks! Viva
Posts: 532 | From southeast US | Registered: Oct 2005
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Geneal
Frequent Contributor (5K+ posts)
Member # 10375
posted
My CPA allows monies spent on health insurance as well.
That is a huge chunk for my family.
At the end of each year, I go to my pharmacy and
Have them print a list of all meds and costs
For my entire family.
Don't forget co-pays for physician visits, etc.
Hugs,
Geneal
Posts: 6250 | From Louisiana | Registered: Oct 2006
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tdtid
Frequent Contributor (1K+ posts)
Member # 10276
posted
Great information here. My husband has always made too much to even come close to the 7.5 percent, but this year with the IV's out of pocket, out of state LLMD's and surgeries, I think we might actually make it.
Thank you for adding to the list of other possible things we can also be counting. You all are great.
Cathy
-------------------- "To Dream The Impossible Dream" Man of La Mancha Posts: 2638 | From New Hampshire | Registered: Oct 2006
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bettyg
Unregistered
posted
also MILEAGE for all those dr/meds visits!!
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posted
For this year I am going to use the sheet I get from each LLMD and ND visit telling me what supplements to take to document the expenses of supplements.
The hardest part is keeping track of all these expenses with brain fog, I think.
I keep an envelope for each visit out of town with the receipts in it for hotel and other expenses and the mileage and date written on the outside.
Unfortunately, if you don't itemize on a Schedule A you cannot deduct medical expenses. If you do, don't forget prescription copays, health insurance premiums, prescription glasses and eye exams.
Marla
-------------------- "Life isn't about waiting for the storm to pass, it's about learning to dance in the rain." Anonymous Posts: 450 | From California | Registered: Feb 2008
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bettyg
Unregistered
posted
plus your MEDICARE monthly charges for health insurance coverage
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posted
My LLMD has printed out (looks like a precription) all the suppliments on his letterhead. I have keep the receipts. Can I deduct the supplements also? Is Mapquest portal to portal best way to document miles to the doctor's office? What about our health books we bought? -p
Posts: 641 | From So. CA | Registered: May 2008
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posted
I think you must file long form to right off medical exp. (not starderd deduction) But ive been wrong before. lol, Doc
Posts: 95 | From nys | Registered: Jan 2008
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Keebler
Honored Contributor (25K+ posts)
Member # 12673
posted
-
My focus was solely on supplement, ND and L.Ac treatments-
Yes - if prescribed by a MD or by a ND (naturopathic physician) or even a L.Ac. (Acupuncturist).
And IF not just for maintenance.
Last year, Melody helped me with this. This is what she said:
Yes, I was/am on many herbs and supplements and they ALL were tax deductible per the IRS when I called for clarification as well as the accountant did too.
*** They were clear that IF your Dr. said you needed them to get well, not to just maintain health, then they were tax deductible.***
I also checked with my LLMD (just in case) and he said he would be more than willing to write a letter should the IRS question my claiming of these herbs/supplements, that they were absolutely necessary for me to heal.
-------- --------
Be sure to check for updates. I did this search last year.
You cannot include in medical expenses the cost of nutritional supplements, vitamins, herbal supplements, ``natural medicines,'' etc. unless they are recommended by a medical practitioner as treatment for a specific medical condition diagnosed by a physician. Otherwise, these items are taken to maintain your ordinary good health, and are not for medical care.
Yes! So keep track of your treatments. The costs of acupuncture and prescribed herbal medicine are indeed deductible medical expenses.
What is a medical expense?
Acupuncture falls under the definition of a medical expense which is: ``the costs of diagnosis, cure, mitigation, treatment, or prevention of diseases, and the costs for treatments affecting any part or function of the body.
They include the costs of equipment, supplies, and diagnostic devices needed for these purposes.''
What expenses can you include?
ACUPUNCTURE TREATMENTS:_You can include the amount you pay for acupuncture for you, your spouse, children and dependents.
PRESCRIBED HERBS AND SUPPLEMENTS:_Nutritional supplements, vitamins, Chinese herbal supplements and other natural medicines that are prescribed by an acupuncturist or physician as treatment for a specific medical condition that is diagnosed by an acupuncturist or medical practitioner are tax deductible.
TRANSPORTATION TO ACUPUNCTURE APPOINTMENT:_The standard mileage rate allowed for out-of-pocket expenses for a car when you use it for medical reasons is 14 cents a mile for 2004.
Bus, taxi, train and plane fares primarily for and essential to medical care are also included.
How much of the expenses are included?
You can deduct only the amount of your total medical and dental expenses for the year that is more than 7.5% of your adjusted gross income.
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