What are the rules for IRS deductions on alternative medicine?
Posted by admin on Jun 26, 2010
Can you deduct, for example, over the counter medicine recommended by the alternative medicine doctor?
If it is recommended by medical doctor for you to take, then you can claim so much for buying it as long as it is documented and you have saved all receipts for any medicine bought. Vitamins don’t count as medicine. Also check if your stat allows for what is called medical miles. These are miles used to and from doctors and to and from drug store to get medicine.
Read IRS Publication 502.
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http://www.irs.gov
You can only deduct medical expenses that EXCEED 7.5% of your adjusted gross income. For most folks, this will never happen.
Example: You earn $20,000 per year (AGI). Your medical expenses are $900. You have nothing to deduct. You can only deduct expenses exceeding $1,500 (7.5% of 20k). And this only makes sense if you itemize deductions. Your itemized deductions need to exceed about $5800 for single filers, otherwise the standard deduction is greater.
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OTC meds are never deductible, whether prescribed or not. Only prescription meds prescribed by a licensed physician are deductible. Nor is medical treatment that is considered experimental in nature which is where a lot of "alternative" medicine falls.
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If it is recommended by medical doctor for you to take, then you can claim so much for buying it as long as it is documented and you have saved all receipts for any medicine bought. Vitamins don’t count as medicine. Also check if your stat allows for what is called medical miles. These are miles used to and from doctors and to and from drug store to get medicine.
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No, over the counter meds aren’t deductible even if a doc recommends them.
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The only time over-the-counter medicines are deductible is when your doctor prescribes them for treatment of a specific condition. Vitamins are not deductible but calcium with Vit. D is deductible if your doctor specifies it for treatment of osteoporosis.
With the 7 1/2% threshhold and the standard deduction being so generous, most people wouldn’t get a benefit even then.
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depends on what kind of dr it is
a dr registered with any of the certification agencies, probably yes, but
some of these ‘alternative medicine’ doctors are only that in name
did you actually get a real prescription?
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