How Do Medical Deductions Work?
Tax Rules Despite the uncertainty and confusion commonly associated with medical tax deductions, it is possible to get the government to pay for some of your medical bills–provided that you follow some tax rules. Your family must meet a deduction limit allowed by the Internal Revenue Service (IRS). Although medical costs are always rising and tax laws are subject to change, your medical costs must currently exceed 7.5 percent of your adjusted gross income in order to qualify for a medical deduction. The good news is that you are able to reach this deduction limit by adding the medical expenses of other family members and dependents to your taxes. One way of adding up medical expenses for nondependents is by summing up any costs you’ve paid for your parents’ medical needs. An example to consider is prescriptions that your parents or grandparents cannot afford for themselves. As long as you paid for the medical care, prescription medicine or surgery, you get to write that off as a deduc
