2007-04-12 07:45:02 · 6 answers · asked by gruffstuff 1 in Business & Finance ➔ Taxes ➔ United States
Yes you can if you itemize your deductions. However you are only able to deduction the amount that exceeds 7.5% of your Adjusted Gross Income (AGI). For example, if you had $5000 in medical expenses and AGI of $30,000, you can only deduct the amount over $2250 (30,000*7.5%) so your medical deduction would be $2750 (5000-2250). It is not benificial to itemize unless your total itemized deductions exceed your standard deduction.
2007-04-12 07:57:22 · answer #1 · answered by Amy F 3 · 2⤊ 0⤋
If you itemize, you can claim eligible medical expenses (including surgery and prescriptions) that are over 7.5% of your adjusted gross income.
2007-04-12 11:09:29 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
You can claim prescriptions on your tax return but not surgery now this is for canadian law I have no idea for Usa and other area's.
2007-04-12 08:00:21 · answer #3 · answered by Brian D 5 · 0⤊ 1⤋
Sort-of.
So long as you are able to itemize your deductions, medical expenses are deductible once they exceed 7.5% of your adjusted gross income.
For some people it doesn't help to try to deduct these expenses.
2007-04-12 07:49:40 · answer #4 · answered by nova_queen_28 7 · 0⤊ 0⤋
You must certainly can BUT unless your expenses qualify, you misght just as well do nothing - I filed and claimed over 2,000.00 in expenses and did me NO good / - Thanks to laws of the IRS - A corporation illegally collecting our taxes
2007-04-12 08:37:42 · answer #5 · answered by Anonymous · 0⤊ 2⤋
Yes if they meet certain accounting rules related to your income.
2007-04-12 08:34:49 · answer #6 · answered by Anonymous · 1⤊ 0⤋