Surgery Costs???

Justin
on 6/12/06 2:13 am - Nashville, TN
Hi Everyone, I have a quick question about are our surgery costs and expenses really tax deductable? I've been told that they are by a few people but I was just wondering if it is true. And if so what records and receipts should I keep? If anyone has done this or knows of this could you please let me know how and what to do in order to be able to write this off next year. Any help would be greatly appreciated. Thanks Larry
Toni M
on 6/12/06 2:31 am - Gallatin, TN
Keep every receipt and itemize. The costs are not 100% deductable but there is a formula that is used and you will be able to deduct some of the costs.
baughhouse
on 6/12/06 8:17 am - Chattanooga, TN
If you have a letter from your physician saying the surgery is medically necessary, you can deduct it. Keep up with all the costs. Keep the letter from your physicians saying what supplements you must take forever. To be tax deductible you have to itemize (have more things to itemize than you standard deduction would be) You take any medical expenses above 7.5% of your income and this is added to your other itemized deductions (tax deductible contributions, mortgage interest, property taxes, sales tax etc.) I did it and applied the larger deduction to my surgery loan. Beth B. in Chattanooga
Justin
on 6/13/06 5:51 am - Nashville, TN
Thank You for your replies. I'm looking forward to having this surgery and to a new beginning. It's just a little scary how quickly the costs add up. But it is more than worth it. Thank you all again for your responses. Larry.
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