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Staff member
Now for the good news for lots of us: INCOME TAX DEDUCTIONS: MEDICAL: FOR THOSE ON TIGHT FINANCES, some types of expenses, available to real people in the 1970s and early 1980s, and taken away from us, have been restored. You may have to meet the IRS rule that rule that you have to exceed 7% of your Adjusted Gross Income, so check! If you can, it's worth the effort to know, one way or the other. This might apply especially if your out-of-pocket cost get really big or extreme. It might allow you to afford treatment or exams you can't,now, but advise you check first!
We can now deduct TRAVEL, again, and costs of the travel (which may include motel and maybe food).
So: SAVE THOSE RECEIPTS! Keep strict track of your mileage. If you combine the trip with something else - say a trip to COSTCO, you may have to subtract a certain percentage. I had to do that several times, in the past. There is a list, I gather, in the IRS booklet on Medical Deductions. I am using TurboTax 2019, so it asked me those questions, and my former employer hadn't sent those answers. Yet. I am on Medicare, too. Not sure if that's included, but I do pay the required monthly fee for that for Part B, too, and have to figure out how to get that info, I'm afraid. The form had room to add Part A and Part D, maybe for LTC, I think. I'm not on "Obamacare" or any of those Government plans. They list them, but i don't remember the details.
Check!
I'll try to post any updates if the IRS gives me any, either way.
We can now deduct TRAVEL, again, and costs of the travel (which may include motel and maybe food).
So: SAVE THOSE RECEIPTS! Keep strict track of your mileage. If you combine the trip with something else - say a trip to COSTCO, you may have to subtract a certain percentage. I had to do that several times, in the past. There is a list, I gather, in the IRS booklet on Medical Deductions. I am using TurboTax 2019, so it asked me those questions, and my former employer hadn't sent those answers. Yet. I am on Medicare, too. Not sure if that's included, but I do pay the required monthly fee for that for Part B, too, and have to figure out how to get that info, I'm afraid. The form had room to add Part A and Part D, maybe for LTC, I think. I'm not on "Obamacare" or any of those Government plans. They list them, but i don't remember the details.
Check!
I'll try to post any updates if the IRS gives me any, either way.