Medical expenses are deductible up to the amount that they exceed 7.5% of your AGI. If you had an adjusted gross income of $100,000 and your unreimbursed medical expenses were $13,000 than your medical expenses deductible would be $5,500 (13,000 - (100,000 * 7.5%)).
Yes, to the degree your medical expenses are deductible
funeral expenses are not deductible on an individuals tax return as they are not medical expenses. However, if and individual has an estate, then the costs are deductible on their estate tax return (form 1041).
A covered medical expense is an event/procedure that your insurance company will pay for, in full or in part (perhaps with a co-pay or deductible). Uncovered expenses are things you're expected to pay out of pocket.
Only if you are in the business of selling or caring for pets. Your own pets' expenses are not deductible even if you are in the business.
Yes, it is. Long term care insurance premiums are tax deductible. Premium payments are considered to be medical expenses and they are deductible as long as the medical expenses exceed 7.5% of the individual's income.
Medical expenses are deductible to the extent that they exceed 7.5% of your adjusted gross income. The cost of prescription eyeglasses is a qualified medical expense.
Funeral expenses are NOT deductible on an individual taxpayers income tax return.
Life Alert is a communication system that allows you to contact emergency help if you experience the need for care when you are in your home. Life Alert is tax deductible under medical expenses when it is recommend by a physician.
These would be tax deductible under Medical Expenses on Schedule A if you have enough expenses to overcome the threshold and itemize. You cannot use any medical expenses that are reimbursed or paid for by insurance.
NO. Funeral expenses are NOT deductible on the individual 1040 income tax return.
No they are not deductible in most cases.