Making The Most Of Medical Expense Tax Deductions

Kiplinger has advice on on how to maximize your medical expense deductions at tax time. You can only deduct out-of-pocket expenses that exceed 7.5% of your adjusted gross income, so you should try to bundle medical procedures in the same year if possible.

Additionally, you can sometimes claim expenses for parents or others who aren’t dependents but who you provided significant financial support for. You can also claim miles driven for medical procedures. The biggest thing you should do, however, is take advantage of any medical savings or flex account offered by your work–“the effect is the same as allowing you to deduct medical costs” without dealing with complicated IRS rules.

“The Challenge of Deducting
Medical Expenses”
“Making Medical Deductions Work” [Kiplinger]

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