On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided for your convenience and does not constitute legal advice. This publication is protected by copyright.
After 2012, the limitation on deductible medical expenses increases for most taxpayers from the current 7.5% of AGI to 10% (it remains at 7.5% for taxpayers age 65 and over through 2016). So if you need some dental work, laser eye surgery, or other elective but deductible medical procedures, you might consider doing so sooner than later to take advantage of the current lower AGI limit. (But forget that face lift or other nip and tuck procedure you’ve been thinking about – cosmetic surgery costs aren’t deductible unless related to a physical injury or disfiguring disease.) Also, if you are paying for a procedure over time, it might be appropriate to pay it all at once to increase your currently deductible medical expenses.
Determining whether the tax benefits after the AGI limit is applied warrant the current expenditure can be complicated, and you may wish to call this office for assistance.
The following is a checklist of deductible medical expenses. The list is by no means all-inclusive, and some of the deductions listed may have additional restrictions not included here.
| Abortion, Legal | Lead-Based Paint Removal |
| Acupuncture | Learning Disability |
| Artificial Limb | Learning Disability |
| Alcoholism Treatment | Medical Services |
| Ambulance | Medicines, Prescribed |
| Artificial Limb | Mentally Retarded, Special Home for |
| Artificial Teeth | Nursing Home |
| Birth Control Pills | Nursing Services |
| Braille Books and Magazines | Operations |
| Chiropractor | Optometrist |
| Christian Science Practitioner | Organ Donors |
| Contact Lenses | Osteopath |
| Crutches | Oxygen |
| Dental Treatment | Prosthesis |
| Drug Addiction Treatment | Psychiatric Care |
| Drugs (Prescription) | Psychoanalysis |
| Eyeglasses | Psychologist |
| Fertility Enhancement | Special Schools and Education |
| Guide Dog | Sterilization |
| Hearing Aids | Stop Smoking Programs |
| Hospital Services | Surgery |
| Impairment-Related Expenses | Therapy |
| Insurance Premiums | Vasectomy |
| Laboratory Fees | Weight-Loss Program |
| Laser Eye Surgery | Wig (Cancer Patient) |
Please call this office with questions regarding these or other potential medical deductions.