Tuesday Tax Tips & Tidbits - Little Known Medical Deductions

Did you know medical expenses that aren't covered by Medicare or Medi-gap insurance may still be tax deductible?  

Here's a list of little known deductible medical expenses:

·       renovations to increase door width to accommodate a wheelchair 

·       addition of railings, support bars or entrance ramps

·       hearing aids and hearing aid batteries

·       glasses and vision exams 

·       special telephone or television equipment for hearing impaired

·       incontinence supplies

·       window air conditioner for those with allergies

·       amounts you pay for transportation to another city if the trip is primarily for, and essential to, receiving medical services 

·       portion of entrance fee paid to Continuing Care Retirement Communities 

·       maintenance and personal care costs for chronically ill individuals

Keep in mind medical expenses are deductible only if the taxpayer itemizes deductions and has medical expenses in excess of 7.5% of income (10% if younger than age 65).   

This information is for general and educational use only and not intended as tax or legal advice.  Tax situations vary significantly from person to person so it's always best to consult your own professional preparer for deductions that may apply to you.