Can i deduct medical expenses for adult stem cell treatment. They are not fda approved at this time

[dariudd]

This is to correct a medical condition - it is state of the art - experimental at this time.

[bwa · Accepted solution]

If it is medically appropriate in the opinion of your physician and is not illegal in the US it would be a deductible medical expense.  Not being FDA approved does not necessarily make it illegal.

[dariudd]

Do I need a letter from the orthopedic physician - or is a Naturopath physician ok for this approval? Thanks!!

[bwa]

In the event of an audit I suspect an invoice for the procedure would suffice.  If the IRS wants more, they will ask for it at that time.

[leechipturner]

A quick question please.  I have saved all my out of pocket expenses for 2022.  I have parking fees for hospital, lab tests, co-pay MD appointments, & stem cells.  Do I just bundle it all together and submit one number?  Or is parking not deductible?  Does TT have a breakdown of expenses?  Thanks!

[xmasbaby0]

@leechipturner

When you enter medical expenses in TurboTax, it asks you a whole lot of questions to help you include everything that can be entered.  Really what matters in the end is the total of all of it; that is what will go on your tax form, so don't get too frazzled trying to make sure everything is in the "right" category as long as you enter it all, and do not enter anything twice. 

MEDICAL EXPENSES

The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical (including dental, vision, etc.)  expenses that will count toward itemization is the amount that is OVER 7.5% of your adjusted gross income. You should only enter the amount that you paid in 2022—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.

To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses

2022 STANDARD DEDUCTION AMOUNTS

SINGLE $12,950  (65 or older + $1750)

MARRIED FILING SEPARATELY $12,950  (65 or older + $1750)

MARRIED FILING JOINTLY $25,900  (65 or older + $1400 per spouse)

HEAD OF HOUSEHOLD  $19,400  (65 or older +$1750)

Legally Blind + $1750

[DianeW777]

TurboTax will ask you questions about your medical expenses.  You can enter them individually or your can combine them in one total.  The most important is to have your receipts with your tax file in case you need them. Here is a list of questions you can expect to see.  Keep in mind that only the excess that is over 7.5% of your income will add to your other itemized deductions.

1. first prescription drugs, 
2. doctors, 
3. medical facilities, 
4. X-rays & Labs, 
5. Long term care, 
6. eye care, medical 
7. supplies & equipment 
8. travel expenses or transportation and that can include parking fees.

@leechipturner