Federal Tax, Tax

Taxpayers: Plan Ahead for Medical Expense Deductions

Taxpayers who plan to claim medical expense deductions on their 2023 income tax returns now have less than one month to fit in appointments and purchases. You can only claim deductions for qualified medical costs not covered by insurance that exceed 7.5% of your adjusted gross income. If you’re close to or over this limit now, you may want to schedule doctor, dentist, surgical and lab visits and stock up on prescription drugs, contacts, medical devices, and other eligible ongoing health care supplies before Dec. 31. To view all eligible expenses, visit https://bit.ly/481Vpnn . Contact us with questions. © 2023