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A List Of Medical Expenses You Can Deduct From Your Taxes

tax ded. graphicIt’s that time of year AGAIN.  The dreaded tax season.  Hopefully, you didn’t have any major medical or dental expenses in 2015!  We did have some of both, which prompted me to do a little research on “deductible” medical expenses vs. “nondeductible expenses”.

First, your deductible medical expenses must be in excess of 10% of your adjusted gross income.

Deductible Medical Expenses

  • Diagnosis and Cures
  • Annual Physical Exams
  • Medicine, Treatment and Prevention
  • Dental Treatments
  • Medical Equipment, Supplies and Diagnosis Devices
  • Ambulance and Other Medical Professional Transportation
  • Travel expenses to and from treatment
  • Insurance payments
  • Chiropractor
  • Psychologist
  • Physical Therapy

Medical Expenses that Aren’t Deductible

A few expenses that may be medical-related but aren’t as of yet deductible, according to Uncle Sam, are:

  • Elective cosmetic surgery
  • Medicine that isn’t FDA approved
  • Expenses related to a funeral
  • Vitamins
  • Diet foods

Now, it’s time to get busy rounding up receipts!

 

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