Paying taxes is one of the dreadful things in my life. Every year, I contact my financial consultant, parents, friends, and colleagues, to discuss various tax deductions available. This year, however, I got a whole list of medical expenses tax deductions from my granny (Thank You Grandma).

After reading the list I realized that I can include all medical expenses paid for myself, my spouse (no, I am still single), or any members of my family, as deductibles. Some of the common ones are listed below:

• Any amount paid for dental insurance, medical insurance or long term care insurance premiums.
• Insurance deductibles, which includes co-payments as well
• Fees paid to doctors, chiropractors, psychiatrists, health practitioners, dentists, etc.
• Expenses on hospitals, long term care services, nursing homes, lab fees, and other such expenses.
• Money used to buy prescription drugs, insulin, etc
• Money used to purchase contacts or eye glasses, false teeth, hearing aids, and other such necessary equipments.

These were pretty common ones, weren’t they? Now, let’s have a look at some of the uncommon ones (like her bedtime stories).

• Expenses incurred to avail acupuncture treatment
• Expenses incurred for alcohol, drug treatment, and related charges, but they must be prescribed
• Expenses incurred to take part in smoke cessation programs
• Expenses incurred to take part in programs like obesity treatment, or weight loss, or hypertension, etc.
• Expenses incurred to purchase wheelchair, crutches, pets for old and blinds, and for laser eye surgery
• Transportation expenses incurred while availing any of the above mentioned services.

Wow Grandma, that seems to be an awesome list. It would definitely save me lots this year. However, she always has her do’s and don’ts. There are few expenses that can you cannot include a medical expenses tax deductions.

• Expenses incurred on purchasing diet food or paying health club charges
• Funeral costs
• Expenses incurred on surgeries
• Expenses incurred to buy nicotine patches and gums without prescriptions

She has also mentioned how one can claim all these expenses. Before claiming, however, you need to add up the total amount of medical expenses tax deductions, and collect all the bills, statements, receipts, etc, which would be required as evidence. The amount must be mentioned in Schedule A of Form 1040. While filing the tax returns you need to get you bills along.

Thank you granny, I will send you a big surprise this Christmas.