Tax deduction for medical expenses: how?

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To claim a medical expense tax deduction, you must have incurred tax-deductible medical expenses, complete the appropriate forms, and itemize your deductions. Deductible expenses vary by jurisdiction and must exceed a certain percentage of your adjusted gross income. Allowable expenses include physician fees, hospital stays, tests, dental fees, and medically necessary aids. You may also deduct “medical miles,” but cannot deduct voluntary expenses or health insurance premiums paid through an employer.

To get a medical expense tax deduction on your income taxes, you must have incurred medical expenses that can legally be claimed as tax deductible, and you must complete the appropriate forms either by filing documents or by completing the forms at line. To get a tax deduction for medical expenses, you generally must itemize your individual deductions when you file your income taxes. The types of medical deductions you can deduct vary by jurisdiction and may depend on factors such as the type of illness, diagnosis, and treatment. Tax-deductible medical expenses generally include only those costs that were the direct result of preventing or mitigating a disease or defect.

When claiming the medical expense tax deduction, you are generally allowed to deduct only medical costs that exceed a certain percentage of the adjusted gross income you report for that year. The exact percentage allowed can vary from jurisdiction to jurisdiction, so be sure to check with your government’s tax department. If the total of all medical expenses incurred during the year does not add up to more than this minimum amount, then you normally will not be allowed to take the medical expense tax deduction.

Allowable medical expenses may include physician fees, hospital stays, tests, dental fees, surgical fees, and any amount of medical costs directly associated with a specific disease or the prevention of a disease. With the exception of insulin, only medications prescribed by a licensed medical professional can generally be taken as a medical expense tax deduction. The expense of medically necessary aids can also be claimed as a medical expense deduction in many cases. These aids may include items such as prescription glasses, false teeth, wheelchairs, guide dogs, and other types of medical aids that are necessary for daily living and quality of life.

In addition to medical expenses incurred from doctors, hospitals, tests and treatments, you may also be allowed to deduct “medical miles.” These include mileage fees that resulted from driving to and from medical procedures, checkups, or appointments. You could even deduct mileage fees that result from trips to the pharmacy or expenses associated with admission and travel to medical conferences related to your specific medical condition. However, you are generally not allowed to claim any deductions associated with conference meals or lodging.

Medical costs that may not be deductible include those expenses that are voluntary in nature. These costs include cosmetic surgery, funeral expenses, over-the-counter drugs, maternity clothes, and any other expenses resulting from procedures that are not considered medically necessary and voluntary in nature. Also, you generally cannot claim any health insurance premium that is paid through an employer as a deduction for medical expenses. However, you can often claim health insurance premiums if you are self-employed or have a health insurance policy that is not sponsored by your employer.

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