The Internal Revenue Service or IRS considers medical care expenses are the following:
- cost for your medical diagnosis
- cost for your cure or medicine (prescription is required)
- cost for disease mitigation
- cost for your medical treatment
- cost for prevention of disease
- cost for treatments affecting any part or function of the body
You can only add the medical care expenses you paid during the year. You cannot include the following:
- non-prescription drugs such as vitamins
- toiletries
- cosmetics
- most cosmetic surgery
- vacation
- any program that concerns the general improvement of your health
- funeral or burial expenses
As you know, medical expenses cover health insurance premiums – well, that’s if they haven’t already taken yet from your salary in pre-tax funds – such as:
- diagnostic tests
- doctors fee
- prescription medications
- hospital admissions
- medical equipment
However, there are medical expenses that do not neatly fall into any of these said categories. Yes! The Internal Revenue Service (IRS) permits a comprehensive type of medical expenses as long as you have the required documents to present. It is just really helpful for all and sundry to have an opportunity to save money and get the privilege that they deserve. You can check Schedule A (Form 1040) from the IRS page and it will guide you to itemize your deductions correctly. Keep in mind that you cannot deduct all of your medical costs. You can deduct only the amount of your total medical expenses that exceed 7.5% of your adjusted gross income (AGI).
If you realized that you still have substantial medical expenses that have not been covered yet by the insurance in the previous year, you probably will be able to deduct them on your tax return.
There are also additional medical expenses that may be overlooked such as alternative medications, special diets, wigs for patients that have cancer or alopecia, child care for babies, and many more.
Medical mileage logs must be properly organized and intact. The IRS does not accept incomplete supporting documents or your words. Without proof or lack of proof, the IRS has the authority to refuse your deduction and issue fines. To avoid future problems and less stress use a mileage log maker that is reliable and verified to meet the IRS log specifications. It is not just the perfect tool to record medical miles to claim or reimburse medical mileage deduction but also for business mileage deductions and business mileage reimbursement.
Your medical mileage log should include the following information:
- Your mileage (may vary)
- Your medical trips’ dates
- The locations you traveled to for medical reasons
- The medical reason for your trips
You do not need to provide this log when claiming the medical mileage deduction. BUT, if you are ever audited by the IRS office, you will be required to show evidence of your deductions to make your claims valid. Read the tips for winning a tax audit and how to prepare for a tax audit for your guidance.
Visit the Express Mileage FAQ page for more details. Make a mileage log today. Signing up is FREE!
