Vitamins a tax wright off?
on 4/6/15 7:26 am
Vitamins are a dubious area but we can all make a good case for medical necessity after a DS procedure so it's a fair question. The real issue is that the IRS makes it very difficult to get much benefit from medical deductions. Generally you need a relatively low adjusted gross income and high medical expenses to get anything worthwhile back on your return. For 2014, you can only deduct medically necessary expenses that exceed 10% of your Adjusted Gross Income (AGI) or if you're over 65, 7.5%.
For example, let's assume your under 65 years old, had 60k in adjusted gross income and 7k in medical expenses including 1,500 in vitamin costs. If you itemize deductions on a 1040A (can't use form 1040ez), then you could only deduct medical costs over 10% of AGI (over 6k). In this example, the total medical expenses of 7k minus the 10% of AGI or 6k = 1k of deductions that you will get credit for on your tax return.
In case you're wondering, I'm not an expert but I stayed at a Holiday Inn Express the other night.
Hey there, yes you most likely can if the cost if all your medical/dental/vision costs exceed 10% of your AGI (or 7.5% it your over 65). Now you most likely only have a case for necessary vitamins not something like cranberry or melatonin. But ADEK'S etc that your Dr says you need to take would be (likely) deductible. Also, please keep your receipts - makes it easier should an audit occur. You would likely not be able to deduct protein shakes. (I am not a tax professional- I am studying for the CPA exam but have not passed all sections. All tax situations should be discussed with a licensed tax professional in your state.)
Heres what the IRS says about it:
Nutritional Supplements
You cannot include in medical expenses thye cost of nutritional supplements, vitamins, herbal supplements, “natural medicines,” etc. unless they are recommended by a medical practitioner as treatment for a specific medical condition diagnosed by a physician. Otherwise, these items are taken to maintain your ordinary good health, and are not for medical care.
Weight-Loss Program
You cannot include the cost of diet food or beverages in medical expenses because the diet food and beverages substitute for what is normally consumed to satisfy nutritional needs. You can include the cost of special food in medical expenses only if:
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The food does not satisfy normal nutritional needs,
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The food alleviates or treats an illness, and
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The need for the food is substantiated by a physician.
http://www.irs.gov/publications/p502/ar02.html#en_US_2014_publink1000179074
HW 284; SW 270; CW 152; Revised GW 140-160
I understand it the way Kaila describes. It may not be clear but I think you need to have
something written by the a Doctor stating the medical necessity of the vitamins. I've seen
some people that just wrote out their list and asked the Doctor to sign it.
I find that I have not gotten to the point where I can itemize so it has been a non-issue for me
so far.
Pete