My yearly tax question

[Guest guest]

Elissa,

Yes, we did hit that number and apply for the medical deduction on the income

taxes. However, you do know, I hope, that you only get the deduction on the

amount OVER the 7 percent.

The only hint I can give you is that you must keep really good documentation.

Save every receipt from everything: the doctor, parking, gas for travel,

etc. The year that we qualified, we had actually put in a handicapped bathroom

for me, in addition to having been hit with emergency surgeries and

hospitalizations.

You do sound as though you think you might qualify. Just add all your

expenses up and then follow the instructions on the income tax form and see

where

you end up. We've only done it once or twice, and because we had a particularly

bad year. We do have a Certififed Public Accountant do our taxes.

I hope that this helps! (At least you're getting one answer this time!)

Sincerely,

Carole M (the elder)

[Guest guest]

Hi, all:

I write this every year and never get a response. So here, for

posterity, is the question. Is anyone else hitting 7 percent of

their income for medical expenses, triggering the possibility of

deductibility? Any hints, tips, or avoidable pitfalls in handling

this on my taxes?

Thanks in advance,

Elissa

[Guest guest]

Hi Elissa...

I had enough in medical costs to hit the deductible the year I had my

scoliosis surgery. In that same year, I purchased an adjustable bed

and a hot tub. I got my surgeon to write recommendations for both

items, and then deducted them from my taxes. My accountant said they

were valid expenses. However, I was not audited, so I'm not sure if

those expenses would survive one.

Regards,

[Guest guest]

Hi Elissa,

In Canada, you can save your receipts for more than one year, up to 7 years,

to claim them on income but you can only claim those receipts once. I don't

know if it is the same in the States but you could probably ask your income

tax office.

Llweyn

My yearly tax question

Hi, all:

I write this every year and never get a response. So here, for

posterity, is the question. Is anyone else hitting 7 percent of

their income for medical expenses, triggering the possibility of

deductibility? Any hints, tips, or avoidable pitfalls in handling

this on my taxes?

Thanks in advance,

Elissa

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