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In AZ can you deduct costs of general meds for tax purposes?

In AZ can you deduct costs of general meds for tax purposes?

Old Jun 23rd 2012, 6:25 pm
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Default In AZ can you deduct costs of general meds for tax purposes?

In AZ can you deduct costs of general meds for tax purposes?

e.g. buying pain killers from Walgreens, allergy tablets etc?
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Old Jun 23rd 2012, 6:29 pm
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Default Re: In AZ can you deduct costs of general meds for tax purposes?

Originally Posted by HarryTheSpider View Post
In AZ can you deduct costs of general meds for tax purposes?

e.g. buying pain killers from Walgreens, allergy tablets etc?
Most people can't deduct medical expenses from their taxes. The exception is if you itemize (which, for most people, means that you have a large mortgage since otherwise you might as well take the standard deductions) AND your medical expenses exceed a proportion of your income.
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Old Jun 24th 2012, 1:17 am
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Default Re: In AZ can you deduct costs of general meds for tax purposes?

Are you talking about state or federal taxes? I have no idea what AZ rules might be. For federal, I think the medical expenses have to be 7.5% or more of your income in order to deduct them. You cannot include the cost of your monthly premiums if you have a policy through your company. I think thee are some other rules that I can't quite remember at this time..sorry!
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Old Jun 24th 2012, 3:40 am
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Default Re: In AZ can you deduct costs of general meds for tax purposes?

Originally Posted by HarryTheSpider View Post
In AZ can you deduct costs of general meds for tax purposes?

e.g. buying pain killers from Walgreens, allergy tablets etc?
To my knowledge, you cannot deduct over-the-counter medicines. You can only deduct prescription medicines, if you itemize.

Rene
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Old Jun 24th 2012, 3:50 am
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Default Re: In AZ can you deduct costs of general meds for tax purposes?

I'm talking about AZ state taxes - I'm aware of the situation for federal taxes.
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Old Jun 24th 2012, 7:08 am
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Default Re: In AZ can you deduct costs of general meds for tax purposes?

Originally Posted by HarryTheSpider View Post
I'm talking about AZ state taxes - I'm aware of the situation for federal taxes.
Like most states, Arizona appears to start with your Federal itemized deductions and then make certain adjustments to them.

The instructions for adjustments to itemized deductions appear to indicate that while Arizona doesn't limit the deductions to the amount that exceeds 7.5% of your Federal AGI they do limit the categories of allowable expenses themselves to be the same as the ones that are allowed on the Federal return.
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Old Jun 24th 2012, 11:28 pm
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Default Re: In AZ can you deduct costs of general meds for tax purposes?

Originally Posted by HarryTheSpider View Post
I'm talking about AZ state taxes - I'm aware of the situation for federal taxes.
As these would be over the counter (OTC) I would suspect that they are not covered. My flexible spending account which is pre tax does not cover OTC items as the Feds took this away a couple years ago. If you can get the doctor to write a prescription for them then you would be covered, but the doctor co-pay and prescription co-pay costs generally make this uneconomic.
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Old Jun 25th 2012, 1:36 pm
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Default Re: In AZ can you deduct costs of general meds for tax purposes?

My flex spending does cover O/C drugs as well as health related items, i.e. humidifiers, etc.
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Old Jun 25th 2012, 11:54 pm
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Default Re: In AZ can you deduct costs of general meds for tax purposes?

Originally Posted by Rete View Post
My flex spending does cover O/C drugs as well as health related items, i.e. humidifiers, etc.
Mine has stopped allowing this unless on prescription. I think it's a new law.
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Old Jun 26th 2012, 4:14 am
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Default Re: In AZ can you deduct costs of general meds for tax purposes?

Originally Posted by Rete View Post
My flex spending does cover O/C drugs as well as health related items, i.e. humidifiers, etc.
Really? I thought they stopped that this year?

Actually, I take that back - they stopped it for HSA's, not sure about FSA's - I just assumed it was the same.....oops.

Last edited by Yorkieabroad; Jun 26th 2012 at 4:14 am. Reason: oops
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