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Could my regular diabetic medications count as a medical deduction?
Like monthly insulin and monthly pills...
thanks
5 Answers
- 1 decade agoFavorite Answer
Yes.
If you itemize your deductions on Form 1040, Schedule A (PDF), you may be able to deduct expenses you paid that year for medical care (including dental) for yourself, your spouse, and your dependents. A deduction is allowed only for 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. The cost of drugs is deductible only for drugs that require a prescription, except for insulin.
Source(s): Topic 502 - medical and dental expenses - www.irs.gov - Spock (rhp)Lv 71 decade ago
yes, of course.
Medical Expense is subject to a 7.5% of AGI deduction and the rest goes on Schedule A -- Itemized Deductions.
Source(s): cpa - How do you think about the answers? You can sign in to vote the answer.
- TLv 51 decade ago
As long as you are paying for them and can show a receipt for the amount you are claiming.