WLS on your Taxes?

[mikki21 1]

Can you claim WLS on your taxes as a medical expense? I did mine as self pay so certainly there is a way right?

[Cocoabean 430]

I don't see why not, but I think your medical expenses have to be over a certain percentage of your income before you can deduct them. You also have to be itemizing not doing a standard deduction.

[123crod 170]

I counted mine but you do have to itemize and not take standard deduction. First time in years I got a refund instead of paying.

Cheri

[honk 780]

Yes, it can be deducted but you must meet a level. Go to IRS.gov and search for medical expenses. I think it is like 7% of your income.

[Manda87 3]

Here's the link: http://www.irs.gov/taxtopics/tc502.html

[mikki21 1]

Thank you all for your responses!!!! I need all the help I can get.

[RGVT78 5]

I counted mine but you do have to itemize and not take standard deduction. First time in years I got a refund instead of paying.

Cheri

Cheri, did you have to file separately from your husband?

[123crod 170]

Cheri, did you have to file separately from your husband?

No we filed together.

Cheri

[leftover_eidoes 0]

Hey guys, Im a tax agent in Australia, Australian taxation rules are obviously different to America, But if any Aussies are looking at this forum heres the go:

You can claim Weightloss surgery as a tax deduction, but not cosmetic surgery.

Basically any surgery that you could claim on private health insurance (even if you dont have it) is tax deductible. In that sense, any expense that you have thats medically related you can claim as a tax deduction. This is limited to however to prescription drugs, you can claim them, but you cannot claim things such as bandaid and panadol.

The threshold for medical expenses for the 2010 financial year was 1500. This will be going up to 2000 in the 2011 financial year. You can 20% as an offset for any amount of this threshold. THis is a non-refundable tax offset.

Hope this helps =)