You can also take the Medical Expense Tax Deduction if you file an itemized tax return and your medical expenses equal at least 7.5% of your adjusted gross income. While this may include things like contact lenses, it cannot include anything that’s cosmetic or otherwise elective. That means breast implants do not count.
This is a highly complex area of income tax filing and it’s best you do the research on medical expense deductions as it will take a fair amount of time to gain clarity on what you can and can’t do in your situation.
The IRS defines a medical expense as “an expenses paid for the prevention or alleviation of a physical or mental defect or illness. Medical care expenses include payments for the diagnosis, cure, mitigation, treatment, or prevention of disease, or treatment affecting any structure or function of the body. 7.5% of your total adjusted gross income isn’t as impossible as it sounds so don’t despair before you even make an attempt.
How TurboTax Can Help
Remember, when you file your taxes with TurboTax, you don’t need to know which tax forms to fill out. We’ll ask you simple questions about your life and put your answers on all the appropriate tax forms.