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Subject Author Date
Medical deduction for drugs? supplements? boostm3 03-10-2008
Posted by Harlan Lunsford on March 10, 2008, 5:49 pm
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 Kurt Ullman wrote:

>
> Can't say for sure with the FSA (thanks for the reminder), but my HSA
> manual says OTC can be reimbursed, period. Maybe I should use that
> ability to buy some Ginko for my memory (g).
>
Not a bad idea, but REMEMBER....! you then have to remember to take
the pills!

(now where did I put my memory pills?)

ChEAr$,
Harlan Lunsford, EA n LA

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Posted by Mike20878 on March 17, 2008, 7:58 am
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 It makes no sense that OTC drugs cannot be deducted on schedule A.
Aren't you supposed to exclude any FSA reimbursements from schedule A
medical deductions? If those include OTC drugs it would not be fair
to have to subtract an amount including OTC drugs from a number that
does not include them.

========================================= MODERATOR'S COMMENT:
No one ever suggested that the tax code was either fair or made
any sense.

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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
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Posted by Phil Marti on March 17, 2008, 10:07 am
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"Mike20878" wrote:

> It makes no sense that OTC drugs cannot be deducted on schedule A.

Write your members of Congress and tell them. They love to hear from
constituents, especially in election years.

--
Phil Marti
Clarksburg, MD

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
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Posted by removeps-groups@yahoo.com on March 17, 2008, 12:53 pm
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> It makes no sense that OTC drugs cannot be deducted on schedule A.
> Aren't you supposed to exclude any FSA reimbursements from schedule
Amedicaldeductions? If those include OTC drugs it would not be fair
> to have to subtract an amount including OTC drugs from a number that
> does not include them.

Yes, you do have to include reimbursements. So if your doctor's
visits were $600, and FSA paid $500, you could only report $100 on
Schedule A before the 7.5%. If OTC drugs were deductible, the same
rule would apply.

If you write to your congress person as Phil suggests, you can also
suggest lowering the threshold from 7.5% to 5%, and making (part of)
medical expenses not added back to AMT :).

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Haskel LaPort on March 18, 2008, 4:09 pm
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>
>> It makes no sense that OTC drugs cannot be deducted on schedule A.
>> Aren't you supposed to exclude any FSA reimbursements from schedule
>> Amedicaldeductions? If those include OTC drugs it would not be fair
>> to have to subtract an amount including OTC drugs from a number that
>> does not include them.
>
> Yes, you do have to include reimbursements. So if your doctor's
> visits were $600, and FSA paid $500, you could only report $100 on
> Schedule A before the 7.5%. If OTC drugs were deductible, the same
> rule would apply.
>
> If you write to your congress person as Phil suggests, you can also
> suggest lowering the threshold from 7.5% to 5%, and making (part of)
> medical expenses not added back to AMT :).

Why not eliminate the deductable altogether. After all we are talking about
the sick and wounded. while we are at it why not get rid of AMT altogether.




>
> --
> << ------------------------------------------------------- >>
> << The foregoing was not intended or written to be used, >>
> << nor can it used, for the purpose of avoiding penalties >>
> << that may be imposed upon the taxpayer. >>
> << >>
> << The Charter and the Guidelines for submitting posts >>
> << to this newsgroup as well as our anti-spamming policy >>
> << are at www.asktax.org. >>
> << Copyright (2007) - All rights reserved. >>
> << ------------------------------------------------------- >>

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

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