TAX CREDIT

[nebsmom]

There has been a lot of talk on here about writing the surg off. Is this true. I ready the info for Canada on here but wasnt sure about the U.S. Anyone have any info??? Thanks

[Dolittle]

There has been a lot of talk on here about writing the surg off. Is this true. I ready the info for Canada on here but wasnt sure about the U.S. Anyone have any info??? Thanks

I wrote off my wife's and my lapband surgery. Also, all the expenses that went along with having the surgery. Like airfare to San Diego,, transportation to the airport and to the clinic, hotels, toll roads, gas for my car, parking at the airport, meals and ofcourse,, the surgery itself. I wrote it all off. I use Turbo Tax Deluxe. Plus,, I wrote off all the clothes I donated to Goodwill. The IRS didn't even blink an eye,, I already got my refund back. But,, when you write off medical expenses,, make sure you also list all your other medical expenses, like dental, chiro and anything else you spend during the year on your normal health care. It all adds up. The Turbo Tax program will walk you through everything. Go to www.irs.gov and read IRS publication #502, That will tell you all about what you can write off,, but its pretty much anything related to the surgery and the surgery itself. The most important part about writing off medical stuff is it depends on how much your income is. It goes by a percentage of your gross. Also,, if you have insurance,, and you getting money from the insurance company.

[lynna]

I wondered about that...thanks for the advice...I guess I should start now looking for my receipts for everything else!

[mona-camille]

Yes, you can write it off. Makes paying out of my own pocket a bit easier.

[Mackenzie]

wait, what happens if youve already done your taxes this year?? can i do it next year???

[Kittycat]

wait, what happens if youve already done your taxes this year?? can i do it next year???

In Canada, there is no time limitation for receipts...I would say yes, it wouldn't be fair to deny it. Cathy

[Dolittle]

wait, what happens if youve already done your taxes this year?? can i do it next year???

I know you can redo your last year taxes. But I don't know if your have to claim the write off in the same year as your surgery. I'd call 1 800 IRS and ask them that question. If it has to be done the same year,, then I'd be redoing my taxes. But,, you got to remember,, there's the income factor, You can only write off medical if it excedes a certain percentage of your gross income. I want to say its 10%,, but I'm not sure, An example would be if you made $50000.00 a year,, your medical bills would have to excede $5000 before you could write them off. Check with the IRS.

[2fat4me]

wait, what happens if youve already done your taxes this year?? can i do it next year???

It looks like your surgery date was in 2008, so you can't use it on your taxes until you are preparing next year to file for year 2008. So you're still good!

[Andrea]

wait, what happens if youve already done your taxes this year?? can i do it next year???

Looks like you had your surgury in 2008, and you won't do taxes for this year until next year.

[Mackenzie]

Looks like you had your surgury in 2008, and you won't do taxes for this year until next year.

duh hahahah thanks! im still new to the whole world of taxes! thanks guys! >

[Dolittle]

duh hahahah thanks! im still new to the whole world of taxes! thanks guys! >

My suggestion would be to buy Turbo Tax next year and enter all the figures into the program and see what it comes up with.. The program walks you through the whole deal,, its real easy.. Or you can have your tax person do it too.

[trulytangledgrl]

WOW!! This is EXCELLENT information. I had NO IDEA you could write off medical expenses. I, too, am new to the tax world... just started this year doing my own. I have a ton of medical expenses... probably over 100$ of perscriptions per month, see an endocrinologist, a gastroenterologist, a psychiatrist, a therapist, you name it. I can't believe I didn't know this until now - well, will have to start saving ALL of my receipts. I assume that medical expenses can include perscriptions also? And cost of Dr. visits? At least I know now so I can write off all my surgery stuff! yippee! Plus I will start saving all my receipts from now on. Still have 6 months of this yr. left! Will have a hefty amount to write off. I wonder if we can write off like all of the food we need to buy for the pre and post op diets (i.e. protein shakes)? That might be pushing it, but just wondering.

[Dolittle]

WOW!! This is EXCELLENT information. I had NO IDEA you could write off medical expenses. I, too, am new to the tax world... just started this year doing my own. I have a ton of medical expenses... probably over 100$ of perscriptions per month, see an endocrinologist, a gastroenterologist, a psychiatrist, a therapist, you name it. I can't believe I didn't know this until now - well, will have to start saving ALL of my receipts. I assume that medical expenses can include perscriptions also? And cost of Dr. visits? At least I know now so I can write off all my surgery stuff! yippee! Plus I will start saving all my receipts from now on. Still have 6 months of this yr. left! Will have a hefty amount to write off. I wonder if we can write off like all of the food we need to buy for the pre and post op diets (i.e. protein shakes)? That might be pushing it, but just wondering.

Go to the IRS website,, www.irs.gov and read publication #502. I don't think you can write off the diet food. Read that IRS article and check it out.

[PAMMIE]

I WAS ABLE TO WRITE THE SURGERY OFF LAST YEAR. I COULD HAVE USED SOME MEDICAL HELP THIS YEAR, OR SOMETHING AS WE LOST A KID, DAMN LOL

[Redgrldj]

I WAS ABLE TO WRITE THE SURGERY OFF LAST YEAR. I COULD HAVE USED SOME MEDICAL HELP THIS YEAR, OR SOMETHING AS WE LOST A KID, DAMN LOL

hmmm if you adopt a kid you get a $10,000 tax credit that is good in one shot or spread over 3 years...

[MamaMichelle]

Publication 502 outlines what medical expenses are allowable. Here are a few highlights from that publication:

What Are Medical Expenses?

Medical expenses are the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or function of the body. They include the costs of equipment, supplies, and diagnostic devices needed for these purposes. They also include dental expenses.

Medical care expenses must be primarily to alleviate or prevent a physical or mental defect or illness. They do not include expenses that are merely beneficial to general health, such as vitamins or a vacation.

Medical expenses include the premiums you pay for insurance that covers the expenses of medical care, and the amounts you pay for transportation to get medical care. Medical expenses also include amounts paid for qualified long-term care services and limited amounts paid for any qualified long-term care insurance contract.

What Expenses Can You Include This Year?

You can include only the medical and dental expenses you paid this year, regardless of when the services were provided. (But see Decedent under Whose Medical Expenses Can You Include, later, for an exception.) If you pay medical expenses by check, the day you mail or deliver the check generally is the date of payment. If you use a “pay-by-phone” or “online” account to pay your medical expenses, the date reported on the statement of the financial institution showing when payment was made is the date of payment. If you use a credit card, include medical expenses you charge to your credit card in the year the charge is made, not when you actually pay the amount charged.

If you did not claim a medical or dental expense that would have been deductible in an earlier year, you can file Form 1040X, Amended U.S. Individual Income Tax Return, for the year in which you overlooked the expense. Do not claim the expense on this year's return. Generally, an amended return must be filed within 3 years from the date the original return was filed or within 2 years from the time the tax was paid, whichever is later.

You cannot include medical expenses that were paid by an insurance company or other sources. This is true whether the payments were made directly to you, to the patient, or to the provider of the medical services.

Weight-Loss Program

You can include in medical expenses amounts you pay to lose weight if it is a treatment for a specific disease diagnosed by a physician (such as obesity, hypertension, or heart disease). This includes fees you pay for membership in a weight reduction group and attendance at periodic meetings. You cannot include membership dues in a gym, health club, or spa as medical expenses, but you can include separate fees charged there for weight loss activities.

You cannot include the cost of diet food or beverages in medical expenses because the diet food and beverages substitute for what is normally consumed to satisfy nutritional needs. You can include the cost of special food in medical expenses only if:

The food does not satisfy normal nutritional needs,

The food alleviates or treats an illness, and

The need for the food is substantiated by a physician.

Medical Conferences

You can include in medical expenses amounts paid for admission and transportation to a medical conference if the medical conference concerns the chronic illness of yourself, your spouse, or your dependent. The costs of the medical conference must be primarily for and necessary to the medical care of you, your spouse, or your dependent. The majority of the time spent at the conference must be spent attending sessions on medical information. The cost of meals and lodging while attending the conference is not deductible as a medical expense.

Here's the Link: http://www.irs.gov/publications/p502/ar02.html#d0e232