Tuesday, January 19, 2010

medical deductions

I've never been to Publication 502.

This is the form that lists what is and is not allowed as medical deductions on income tax returns. Because we have spent so much in doctor bills this past year, I was curious to find out if we could claim ours. If you spend more than 7.5% of your income on medical bills, then you can claim it. Publication 502 on IRS.gov is very helpful in this. It tells what is allowed (prescription meds, doctor visits, even some travel to medical facilities) and what is not (no supplements including vitamins, calcium, cla supplement, health club dues, etc.) In looking over our expenditures, we have spent 8.2% on allowable items. I hope that we will be able to recoup some of the money we have spent on medical issues this past year.

That I'd like to see.

No comments: