Deductions and Write-Offs
The most frequently asked tax questions related to Deductions and Write-Offs
Union dues
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
Union dues are deductible itemized deduction subject to the 2% AGI limitation.
Life insurance
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
The payments to life insurance policies are not deductible.
Contact lenses costs
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
The costs of Contact lenses including materials and equipment for using them are deductible as a medical itemized deduction subject to the 7.5% limitation.
Drug addiction treatment costs
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
The costs for the treatment and meals and lodging at rehabilitation centers are deductible as medical itemized deductions subject to the 7.5% limitation.
Fertility costs
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
In vitro surgery or fertilization including surgery to reverse procedure are deductible as a medical itemized deduction subject to the 7.5% limitation.
Expenses to obtain a egg donor are also deductible as a medical itemized deduction subject to the 7.5% limitation.
Expenses to obtain a egg donor are also deductible as a medical itemized deduction subject to the 7.5% limitation.
Nursing home costs
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
Generally, the costs for medical care including meals and lodging are deductible. If the main reason of being in the nursing home is not primarily for medical care, only the portion allocated to medical care is deductible.
Vasectomy costs
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
The costs of a vasectomy and reversal of a vasectomy are deductible as a medical itemized deduction subject to the 7.5% limitation.
Vitamins and supplements
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
Vitamins and other nutritional supplements are not deductible unless recommended by a medical practitioner as treatment for a specific physician diagnosed medical condition.
Laser vision surgery
Asked Thursday, February 09, 2012 by an anonymous userCPA Answer:
Laser vision surgery such as Eye surgery for nearsightedness is deductible as a medical itemized deduction subject to the 7.5% limitation.