Tax Deductible Medical Expenses

Today, we have a number of tax deductions available that reduce the amount we have to pay as our tax. One of these are medical expenses. Other tax deductions are certain education expenses, charity, payments to retirement and health organizations, interest payable on specific home loans, etc. These medical expenses are deducted from the yearly tax you have to pay. These are implemented to help the citizens and save them from spending almost everything they earn on taxes and other important expenses. These medical expenses will usually include all the expenses that you have incurred on treating yourself, but to an extent that it was absolutely necessary in terms of health. Certain expenses for machinery needed for treatment may also be included. Dental expenses too, are considered tax deductible. However, cosmetic dentistry may not. To be sure of what exactly are tax deductible medical expenses and what aren't, read the definition below and then the list of these medical expenses following this definition. However, before that you also need to know what is taxable income because if your income is not taxable, then you won't be liable for these deductions.

What Medical Expenses Are Tax Deductible?
Medical and dental expenses are among the many tax deductions for individuals that are available today. According to the Internal Revenue Service (IRS), "Medical expenses are the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or function of the body." It also states that, "Medical expenses include the costs of equipment, supplies, and diagnostic devices needed for these purposes." In addition to that, "Medical care expenses must be primarily to alleviate or prevent a physical or mental defect or illness. They do not include expenses that are merely beneficial to general health, such as vitamins or a vacation." The list of tax deductions for medical expenses are listed in Topic 502.

Yes, there are places where confusion might arise. Specially, when it is said that these medical expenses should be for the prevention of disease. In such a situation, the case should be looked upon differently and a tax consultant might be able to tell you whether the said transaction or expense is one of the tax deductible expenses. For all the medical expenses that you incur, for them to be tax deductible, they have to meet the guidelines mentioned above. If they don't, they don't classify as tax deductible expenses.

List of Tax Deductible Medical Expenses
All medical expenses that can be termed as one of the following can stand valid for tax deduction. If there is an expense that does not fit any of the categories mentioned below, but has been incurred for prevention of a disease or illness it should be filed after consultation and after following the necessary required procedures.

• Abortion
• Acupuncture
• Alcoholism
• Ambulance
• Artificial Limb
• Artificial Teeth
• Birth Control/Contraceptive Pills
• Braille books and magazines
• Capital Expenses
• Car (Customized for Illness)
• Chiropractor
• Christian Science Practitioner
• Contact Lenses (Not Cosmetic)
• Crutches
• Dental Treatment
• Drug Addiction
• Eyeglasses
• Fertility Enhancement
• Guide Dogs
• Health Institute
• Health Maintenance Organization (HMO)
• Hearing Aids
• Home Care
• Hospital Services
• Medical Insurance Premiums
• Laboratory Fees
• Laser Eye Surgery
• Lead-based Paint Removal
• Learning Disability
• Legal Fees
• Lifetime Care Payments in Advance
• Lodging
• Long-term Care
• Meals during Illness
• Medical Conferences
• Medicines
• Mentally Retarded
• Nursing Home
• Nursing Services
• Osteopath
• Oxygen
• Psychiatric care
• Psychoanalysis
• Special schools and Education
• Sterilization
• Programs to Quit Smoking
• Therapy
• Transplants
• Transportation
• Trips
• Vasectomy
• Weight-loss program
• X-rays

Now that you know all the tax deductible medical expenses, you can file your taxes accordingly. As I have said before, there might be certain cases which may not fit into the above-mentioned options but might stand valid for tax deductions. In such cases, approaching a tax consultant will be the best option. He will tell you all the tax deductible items you can include. The definition of medical expenses as we have seen, is very general and hence if there is a medical expense that you have incurred and it is not one of the above, you might have to follow different procedures. In all cases, keep your receipts intact.