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streyfur
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My doctor tells me to take immodium every day, but the medicine is not prescription, can it be deducted?

 
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2 Replies

My doctor tells me to take immodium every day, but the medicine is not prescription, can it be deducted?

What kinds of prescriptions can I deduct?

Include in medical expenses what you paid during the year for prescribed medicines, drugs and insulin. Except for insulin, you cannot include amounts paid for over-the-counter medicines even if prescribed (such as aspirin), or drugs that are not prescribed. Do not claim amounts reimbursed by insurance or that you did not actually pay.

 

 

My doctor tells me to take immodium every day, but the medicine is not prescription, can it be deducted?

No.  Over the counter meds cannot be deducted as a medical expense.  And.....really.....medical expenses are one of the most difficult deductions to get.   A few bottles of OTC meds would not have any effect on your refund or tax due.

 

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 2023—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

 

 

2023 STANDARD DEDUCTION AMOUNTS

 

SINGLE $13,850  (65 or older/legally blind + $1850)

 

MARRIED FILING SEPARATELY $13,850  (65 or older/legally blind + $1500)

 

MARRIED FILING JOINTLY $27,700  (65+/legally blind) )  + $1500 per spouse

 

HEAD OF HOUSEHOLD  $20,800 (65 or older/blind)  + $1850)

 

 

https://turbotax.intuit.com/tax-tips/health-care/medical-expenses-checklist/L6MkxxlyW

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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