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kelllmu
New Member

Should I estimate prescription expenses amount?

 
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1 Reply
JohnB5677
Expert Alumni

Should I estimate prescription expenses amount?

It is best to be as accurate as you can be with your taxes.

 

  • I suggest you contact your pharmacy.
  • They probably can tell you what your prescription expenses were.
  • If you have to estimate,
    • List your prescriptions
    • Post the re-fill frequency
    • Figure your cost per re-fill
    • Calculate the total.
    • Use this total.  You will only post the total to your tax return.

Keep these documents with your current taxes.

If the IRS should ask, you can provide them to show how you came up with the prescription deduction.

 

Please contact us again with any additional questions.

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