It’s tax time again. And that means it’s time to gather up your tax documents, crunch the numbers and hope for the best.
For many older Americans, it also means utilizing some key health care-related deductions.
Here is a list of 17 health care expenses that seniors or people with disabilities may be able to deduct from their 2018 taxes, which will be filed in April 2019.
Medical expenses are defined by federal tax law as “the costs for diagnosis, cure, mitigation, treatment or prevention of disease, and for treatments affecting any part or function of the body.”1
But the IRS also allows for a number of tax deductions that don’t necessarily fit into any of those categories, and many of these deductions often go overlooked by tax filers.
Some of these potential deductions can include costs related to:
The 2019 tax filing season ends on Monday, April 15. You can consider talking to a tax professional if you believe any of the deductions above may apply to your filing.
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