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Are miles to pick up prescriptions from pharmacy deductible?
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Are miles to pick up prescriptions from pharmacy deductible?
Yes those would be a deductible medical miles. (The 2015 rate for medical miles is 23 cent per mile)
The law states that medical expenses include expenditures for:
1. the diagnosis, cure, mitigation, treatment or prevention of disease, or for the purpose of affecting any structure of function of the body (including amounts paid for accident or health insurance), or
2. transportation primarily for and essential to medical care referred to above.
Based on this definition, the transportation necessary to obtain medication would also qualify.
Medical expenses are only deductible if you itemize deductions and are only deductible in the year paid. Also only the portion of your total medical expenses that exceed 10% of your AGI are deductible (7.5% if either if age 65 or older until 2017)
To enter your medical expense in TurboTax Online or Desktop, please follow these steps:
- Once you are in your tax return, click on the “Federal Taxes” tab
- Next click on “Deductions & Credits”
- Next click on "jump to full list" or “I’ll choose what I work on”
- Scroll down the screen until to come to the section “Medical”
- Choose "show more", then Medical Expenses and follow the onscreen instructions
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