This may be your best opportunity to deduct medical expenses for a long time.
Reason: The threshold for the itemized federal income tax deduction for unreimbursed medical expenses is reduced to 7.5% of adjusted gross income (AGI) through 2024.
Strategy: In preparation for filing your 2024 Form 1040 , comb through your records for deductible medical expenses. Some you might not have considered could put you over the deduction threshold. For instance, you may have incurred expenses in 2024 relating to COVID-19 treatment. Other deductible expenses aren’t as obvious.
Here’s a “top 20 list of unusual medical expenses” culled from IRS Publication 502 , “Medical and Dental Expenses.”
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Deduct the amount paid for a legal abortion.
. Include in medical expenses the amount you pay for acupuncture.
. A deduction is allowed for inpatient treatment at a therapeutic center for alcohol addiction. This includes meals and lodging provided by the center during treatment.
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Write off the amount you pay for artificial teeth.
. A deduction is allowed for birth control pills prescribed by a doctor.
. The cost of breast pumps and supplies that assist lactation is deductible.
. Fees paid to a chiropractor for medical care count toward a deduction.
. You can deduct contact lenses needed for medical reasons, plus the cost of equipment and materials required for using contact lenses, such as saline solution and enzyme cleaner.
. Deduct the cost of procedures such as in vitro fertilization (including temporary storage of eggs or sperm) and surgeries related to infertility.
. Include in medical expenses the cost of removing lead-based paints from your home to protect child health.
Legal fees for mental illness treatment
. You may be able to write off legal fees that are necessary to authorize treatment for mental illness.
. Include amounts paid for admission and transportation to a medical conference if necessary for the medical care of a loved one.
. A deduction is allowed for oxygen and equipment to relieve breathing problems caused by medical conditions.
. Write off the amount paid to purchase a pregnancy test kit.
. You can deduct amounts paid for psychiatric care, including specialized centers for mental health.
. The IRS allows you to deduct amounts paid for a program to quit smoking.
Telephone equipment for disabilities
. Count the cost of special equipment enabling communication for individuals with disabilities.
. Deduct amounts paid for medical care related to organ donation․․․