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Itemized Deduction

Medical and Dental Expenses

QuestionAnswer
How does one determine the taxable income of taxpayers who itemize deductions? Adjusted gross income (AGI)minus total itemized deductions and total exemptions
Who may itemize Technically any taxpayer who wants to. However generally it is not advantageous unless total itemized deduction exceed the taxpayer's standard deduction
The cost of most legal medical and dental procedures is deductivble, but ther is an exception. What is it The cost of cosmetic surgery and procedures is not deductible unless the surgery or procedure is necessary to correct or improve a deformity arising from a congenial abnormality, an accident, or a disfiguring disease.
What kind of medicines and drugs may be claimed as itemized deductions Prescription medicines and drugs and insulin
Although the cost of nonprescription medicines is not deductible, there is a provision that allows deductiblity. What is it If a doctor writes a prescription for a nonprescription medicine to treat a specific disease or condition that has been diagnosed by the taxpayer's doctor, nonprescription medicines can be paid for (reimbursed) using pretax money in a section 125 plan
Is the cost of a weight-loss program or weight-loss surgery deductible Yes, if is undertaken to treat a specific diagnosed disease.Obesity is recognized as a disease in and of itself;so if a doctor has diagnosed the patient as obese the cost of weight-loss program or weight-loss surgery would be deductible.Food is not.
If a taxpayer drives his own car to the doctor or to buy prescription medicine what expense in addition to the doctor bill or cost of the medicine may be deducted He may deduct the standard mileage rate for the round trip or his actual expenses for gas.Most taxpayers use the standard mileage rate.(0.19/mile Jan1-June30; 23.5 cent/mile July1-Dec31)
A man paid $2,500 to have a hot tub installed in his home because his doctor prescribed it for his back problems. The hot tub increased the value of the home by $2000 and cost $300 to run during the year.How much may be deducted as a medical expense The $500 over and above the increase in value to the home plus tje operating expenses for a total of $800.
Pete Carter is confined to a wheelchair.He paid $8000 to have counters in his kitchen and bathroom lowered so he could use them. What is the tax consequence of Pete's remodeling The full $800 is deductible as a medical expense because the work was to remodel the home to make it more habitable for a handicapped indiviual.
Is the deduction for medical expenses limited Yes only the excess over 7.5% of AGI can be deducted
Created by: dawn2000
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