The list of medical costs that can be deducted stretches to the Mayo Clinic and back, but few taxpayers get any tax benefit. The reason for the seeming contradiction is twofold. First, to get any benefit, you must itemize deductions (which most taxpayers do not). Second, you get a tax break only to the extent your total unreimbursed medical costs exceed 7.5% of your adjusted gross income (if your AGI is $50,000, then, the first $3,750 of medical expenses don't count).
Considering these restrictions, it's critically important that you tote up all your deductible expenses and that you know which expenses you can deduct. In addition to what you pay for your own medical care, you can count what you pay for your spouse and anyone you claim as a dependent. If you were divorced during the year but paid medical bills incurred by your spouse while you were married, you can deduct those costs even though you file a separate return. You also can include in your deductible medical expenses any qualifying bills you pay for your child, even if he or she is claimed as a dependent by your ex-spouse.
If you are interested in more tax information check out these sites...
IRS Help 4 You
Tax Consultant Blogs
Brain's Blog
Ashley's Tax Blog
IRS Minds
IRS NEWS
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