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US Income Tax medical deductions and Incontinence Products
I ask:
The US Government/Congress made it extremely difficult to use the Medical Deduction, and, of course, you can only use it if you do the Long Form. I think. So, you have to beat the "Standard Deduction" in costs eligible for that Standard Deduction test, totaling up all your deductions. Once you pass 70 ½ years, that can be hard if you have medical insurance.
That’s one of the questions I intend to ask our Tax Preparer, this year. Maybe you should, too; especially if you have had high medical expenses – out-of-pocket expenses for any medical issues.
My questions are: Are diapers a medical deduction? How about just pads? Do you have to get a prescription? Have you considered this?
If you don't have insurance, or if you have only Medicare, has anyone figured out if you can use the cost of diapers as deductions passed the costs Medicare pays? The co-pay or just for a better product?
What if you find the Medicare-approved-diapers don’t do the job and you have to go out-of-pocket for better ones? Can you talk your doctor into a prescription for that? Or does the Doc’s original Rx cover that and meet the IRS’s standards?
What about shipping fees, if that’s how you get them?
If you are one of the people who gets a really big bill for incontinence medical costs, have you looked into the Income Tax issue? I used to have to deduct medical costs, back in the ‘70s and early ‘80s, and even the "little things" used to add up, so I had a category in my Quicken and kept my receipts. Now my Credit Unions have a financial tool much the same as Quicken, so you can see your income and expenditures by type/category. I think banks like Bank of America do too.
Coolwinter123 replied to my original post:
“On the IRS website there is a medical deduction assistant that can help with your medical expenses for your sch A.”
Consult your Tax Preparer/Financial Advisor!
If you have information, and or links, please post!
I ask:
The US Government/Congress made it extremely difficult to use the Medical Deduction, and, of course, you can only use it if you do the Long Form. I think. So, you have to beat the "Standard Deduction" in costs eligible for that Standard Deduction test, totaling up all your deductions. Once you pass 70 ½ years, that can be hard if you have medical insurance.
That’s one of the questions I intend to ask our Tax Preparer, this year. Maybe you should, too; especially if you have had high medical expenses – out-of-pocket expenses for any medical issues.
My questions are: Are diapers a medical deduction? How about just pads? Do you have to get a prescription? Have you considered this?
If you don't have insurance, or if you have only Medicare, has anyone figured out if you can use the cost of diapers as deductions passed the costs Medicare pays? The co-pay or just for a better product?
What if you find the Medicare-approved-diapers don’t do the job and you have to go out-of-pocket for better ones? Can you talk your doctor into a prescription for that? Or does the Doc’s original Rx cover that and meet the IRS’s standards?
What about shipping fees, if that’s how you get them?
If you are one of the people who gets a really big bill for incontinence medical costs, have you looked into the Income Tax issue? I used to have to deduct medical costs, back in the ‘70s and early ‘80s, and even the "little things" used to add up, so I had a category in my Quicken and kept my receipts. Now my Credit Unions have a financial tool much the same as Quicken, so you can see your income and expenditures by type/category. I think banks like Bank of America do too.
Coolwinter123 replied to my original post:
“On the IRS website there is a medical deduction assistant that can help with your medical expenses for your sch A.”
Consult your Tax Preparer/Financial Advisor!
If you have information, and or links, please post!
