Items that I would bet most of you never thought of as qualifying medical expenses:
Medical expenses to be deductible normally must exceed 7.5% of your adjusted gross income. However, if you are self employed or are an independent contractor, you might be able to deduct qualified medical expenses as a business expense and avoid any threshold amounts. Nice! Here are a list of items that can be qualified medical expenses that I would bet many of you didn’t realize that you could deduct:
- Abortion expenses for legal abortions do qualify.
- Alcoholism treatment This even includes meal and lodging that you incur in staying at a treatment center.
- Artificial teeth.
- Birth control pills.
- Breast pump and supplies.
- Chiropractic expenses.
- Contact lenses.
- Fertility enhancement.
- Medical conferences that you attend if it concerns a chronic illness for you or your family.
- Pregnancy tests.
- Psychiatric care. This includes the cost of supporting a medically ill dependent at a specially equipped medical center.
- Stop smoking programs. However, only drugs that accompany prescriptions can be deducted.
- Telephone equipment they they involved special telephone equipment that enables a person who is deaf, hard of hearing or has a speech disability to communicate over regular telephones. This also includes some of the newer phones that provide written transcripts of audio conversations for those who are legally blind. Finally the cost of repairing this equipment also qualifies.
- Transplants such as costs incurred for kidney transplants are deductible.
- Wig costs. The IRS provides that you can deduct the cost of a wig purchased upon the advice of a physician for the mental health of the patient who has lost all of his or her hair from disease.
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