When it comes to the IRS, one of the ways people save money is by deducting eligible medical expenses.
Many people aren’t aware of this option, or of how to do it.
Paying for medical expenses out of pocket can really add up, and you have the option to deduct unreimbursed expenses from your tax return with the IRS.
This can be for treatment, surgery, dental, vision, and preventative care.
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Once you hit 7.5% of your income you can start deducting medical expenses.
You can also deduct travel for visiting a doctor.
This includes mileage, bus fare, and parking.
These are the medical expenses that may be deducted from your taxes with the IRS
Equipment like wheelchairs, bath chairs, or anything you need to manage a disability can be deducted.
Fake teeth, prosthetics, and equipment used for deaf or hard of hearing people is also deductible.
Breast pumps or nursing supplies fall under deductible equipment.
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Anything related to diabetes testing or management counts.
Vision expenses like exams, contacts, lens solution, and eyeglasses are deductible.
Home health care expenses except housecleaning and special foods for diets due to medical conditions are included.
There are various deductions related to medical expenses that may be claimed.
How to claim medical expenses with the IRS
All you need to do is add it to your 1040 or 1040-SR.
This will go under Schedule A.
It will go with your federal income tax return.
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