TX AND TAXES

[Hepkitten]

Does anybody know where I can find how to write off meds and drs apts for my hubby from my taxes? He has been unemployed since before tx, I want to see if I can claim him as a dependent also.

[friole]

My experience tells me that unless you have a home mortgage you ususally can't itemize.  I don't think $150 a month for meds plus the doctors will be enough for a medical deduction, but the best thing is for you to keep a folder for all the medical expenses and put those receipts in.  Yes dental counts and eyeglasses and exams.  Also, travel for medical -- all those trips to the pharmacy and the doctor and lab -- what I do is estimate it at the end of the year -- and the deduction is $.15 per mile.

SSD is taxable in the same way as social security -- that is a portion of it MAY be taxable but only if your base income is above $32,000.

hep, it might be a good idea to go to H&R Block this year. Although I don't think you will have enough to itemize, you might qualify for earned income credit this year (used to be you had to have kids, but you don't now - just meet certain income qualifications)
frijole

[Hepkitten]

We usually file however we get more $ back, this is the first time he hasn't worked a whole year straight without being on some kind of gov't program so no income for him. I figured it's about 150.00 a month or more just for his meds, so if you add on doctors visits, etc. I'm not sure but I could check if it would be worth it. Does dental count? I could also get that info from the health provider someone suggested. And if he gets SSDI, there's another thing in the mix... Should I go to H&R Block?

[friole]

Hi - I do taxes for a living - but I gotta tell you, there are too many factors here to give an easy answer.  Do you file a joint return with your husband?  If so, you don't deduct him, you just file married filing jointly and report all the income earned (which sounds like would just be yours)and take 2 exemptions.

You can deduct medical expenses as itemized deductions but there are two limitations.  The first is that the IRS "gives" you a standard deduction --for 2006 it is $10,300.  In order to "itemize" you would have to have more itemized deuctions than that -- this includes, sales tax or state tax ,property tax,  mortgage interest, contributions and medical.  If you don't have over $10,300 of those things than you take the standard.

The second limitation to medical is that it is only deductible in excess of 7.5% of adjusted gross income. kind of beyond the scope here to go into that computation but tell me if your itemized deductions are over $10,300 and I will continue.

[NYgirl]

you can usually get a print out from the pharmacy at the end of the year of the copays.  i know they have that much.

[FlGuy]

We have a tx wiz here - I thinks it Friole. May be she can answer as an expert.  From a non-tax wiz person (me) you should accumulate (should track this throughout the year)all your deductible stuff (med/dental premiums, co pays, mileage, glasses, non rx drugs etc.) then they get summed on your Schedule A when you itemize on your federal return.  There's a calculation to determine if you have enough to deduct.  You can go to www.irs.gov and do a search for more details.  Think riba gives you a headache?  For irs purposes your hubby is probably a spouse and not a dependent.