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Can you deduct from your taxes money given to elderly parents to help supplement their lack of income and or pay their medical bills?
Wiki User
∙ 13y ago
No deduction on your income tax return for the gifts to your parents.
Wiki User
∙ 13y ago
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What about co-payments can you deduct them?
Yes, if you are itemizing medical expenses you can deduct co-pays and prescriptions.
How much can Nathan deduct for medical expenses?
$1275
Can you deduct a loss of income due to medical on income taxes?
yes
Can you deduct medical bills for your non dependent adult child?
i hope so
Can you use flexible spending account and claim medical expenses?
Yes but you can NOT deduct the medical expenses that are paid for from your FSA account.
can I use my payments for a private medical plan as a medical deduction thanks ?
As long as you meet the guidelines to be able to deduct medical expenses, payments for private insurance are deductable.
Can ssi deduct payments for crime conviction?
No. Not unless the individuals living circumstances change (e.g.: the recepient goes to prison and no longer needs the supplement payment).
Can you deduct health insurance premiums you paid?
If you file Schedule A (long form) you can deduct your health insurance premiums as a medical expense. If you pay this through your employer, most likely you have it paid from pre-tax income such as through a cafeteria plan, then you are not allowed to deduct the premiums.
Can you claim last years medical expenses on this years account if they have not been paid?
It's not a medical expense until it is paid. The year you pay it is the year you can deduct it.
Are hearing aids for an elderly parent tax deductible?
You can include in medical expenses the cost of a hearing aid and the batteries you buy to operate it. If you itemize your deductions using the Form 1040, Schedule A itemized deductions, you may be able to deduct your UNREIMBURSED medical expenses you paid during the year for medical care. You can only include the UNREIMBURSED medical expenses you paid during the year. Your total medical expenses for the year must be reduced by any reimbursement. You may deduct only the amount by which your total UNREIMBURSED medical care expenses for the year exceed 7.5% of your adjusted gross income. You do this calculation on Form 1040 Schedule A in computing the amount deductible. You can find the below information by going to the IRS gov website and using the search box for Publication 502 (2009), Medical and Dental Expenses
How can you change how your Medicare premiums are paid?
If on medicare you can't, b/c social security will deduct b/c you get your payment. If you have a supplement or mapd policy call insurance carrier
Can you deduct insurance premiums as a medical expense on federal taxes?
Can I add my monthly health insurance payment from my employer to my medical deductions, such as medications prescribed, office visits, etc..
