Medical Expenses (In Mexico) Tax Deductable?

[NJsharon 119]

Silly question & guessing I know the answer, but are medical expenses outside the country tax deductable?

[Foxbins 625]

Yes if you are having surgery for medical necessity and with a BMI of 40, you are. The IRS doesn't care where you have the surgery, they care about why. Ask Dr. Kelly for a letter stating of medical necessity. You can deduct transportation to and from surgery, the surgery itself, and any prescriptions you have filled. No Protein, Vitamins, or supplements though.

[NJsharon 119]

Thanks so much, that is good news then. I will speak to Dr Kelly & see if I can get that then!

[ShannonH 34]

Great question, and an answer I loved to hear!

[SexySlim 107]

I asked my accountant this same question in February. He told me that you can only write off the amount that exceeds 7.5% of your income. Apparently a lot of people took advantage of this rule and they changed it recently. I make a lot of money, so I can't write it off, but it's still the best money I've ever spent!

Good luck!

[Wheetsin 714]

Yes but only the expenses that exceed 7.5% of your AGI (Adjusted Gross Income).

(SexySlim, income and AGI aren't the same, so come tax time make sure your accountant doesn't calculate it based on income. This is one of the audit flags the IRS uses.) Assuming you itemize, which if you have an accountant, is a pretty safe assumption.

Here's more info I've posted on this, including example calculations.

[Wheetsin 714]

Another post in the same thread that may also help.

[SexySlim 107]

Yes. I do. I still make too much to write anything off.

Sent from my iPhone using VST

[Wheetsin 714]

We do too. I won't go there, it's a soapbox topic with me and irritates me to no end.