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Are medical equipment purchesed tax deductable. I have been…

Are medical equipment purchesed...

Are medical equipment purchesed tax deductable

Accountant's Assistant: The Expert will know how to help. Please tell me more, so we can help you best.

I have been prescribed a portable oxygen generator is this equipment deductable

Accountant's Assistant: Is there anything else important you think the Expert should know?

I have COPD

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9/29/2017
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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Experience: 3+ decades of varied tax industry exp. Tax Biz owner
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Hello. Thank you for choosing this Q&A service for assistance. My name is Angela. I will be assisting you.

Q: I have been prescribed a portable oxygen generator is this equipment deductable

A: Yes, you can include the cost of the equipment with other medical expenses, however, you can't deduct the cost of the equipment by itself. SEE BELOW:

---------------------------

Oxygen

You can include in medical expenses amounts you pay for oxygen and oxygen equipment to relieve breathing problems caused by a medical condition.

REFERENCE SOURCE:

https://www.irs.gov/publications/p502#en_US_2016_publink1000179001

IRS Publication 502

General rules to deduct medical expenses. SEE BELOW:

If you itemize your deductions for a taxable year on Form 1040, Schedule A (PDF), Itemized Deductions, you may be able to deduct expenses you paid that year for medical and dental care for yourself, your spouse, and your dependents. You may deduct only the amount of your total medical expenses that exceed 10% of your adjusted gross income or 7.5% if you or your spouse is 65 or older. The 7.5% limitation is effective only from January 1, 2013 to December 31, 2016 for individuals age 65 and older and their spouses. You figure the amount you're allowed to deduct on Form 1040, Schedule A.

REFERENCE SOURCE:

https://www.irs.gov/taxtopics/tc500/tc502

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