how do I know if I am eligible for medical tax deduction?

[Knowlopedia]

To know if you are eligible for medical deduction , it is important to know what is considered medically necessary. What qualifies as medically necessary can be anything that would enable you to maintain a reasonable and workable lifestyle. In the course of your life, medical deductions will most likely be claimed for the following :

• Annual physicals
• Dental care
• Mammograms and other preventative screenings
• Prescription drugs * Visits to the doctor * Prescription eyeglasses * Vision treatment
• Expense replacement therapy such as artificial limbs or pacemakers (if prescribed)
• Complementary alternative medicine such as acupuncture or reflexology . The cost of which is not taxable by the federal government .

Medical deductions can also be claimed for other expenses , such as :

• Treatment and therapy of mental illness (pending legislation)
• Lactation services during breast feeding. A medical deduction is allowable under qualified medical expenses (QME) , which would qualify as a medical expense in the case where any expense would have been deductible on its own . This is not an absolute : only those expenses that are specifically allowed as QME qualify for deductions , while general medical expenses are limited to $2,500 each year .

 

[Learners Quest]

You can know if you're eligible for a medical tax deduction if you have already purchased health insurance and have unreimbursed medical expenses this year. Your total expenses for the year must exceed 10% of your adjusted gross income for the year, but not exceed 7.5% of your adjusted gross income.

If you are eligible, then use IRS Form 1040, Schedule A to calculate your deduction on both itemized deductions and as an alternative method of calculating the standard deduction. If you're not eligible for a medical tax deduction, then deduct only unreimbursed qualified medical out-of-pocket expenses from any miscellaneous deductions subject to 2% floor on form 1040 line 28 and itemize otherwise on schedule A with other miscellaneous items that are subject to 2%.