Service dogs can help their owners — and get them a tax deduction.
The IRS recently opined that certain genetic testing expenses can qualify as medical expenses for itemized medical expense deduction purposes, which means you can buy these tests with your flexible spending account money. In this column, I will cover that news and also identify many other expenditures, some of which are pretty arcane, that count as medical expenses for itemized deduction purposes. But first some necessary background information. Here goes.
What constitutes medical care? Medical care is defined as procedures and care for the diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affecting any structure or function of the body. IRS regulations further stipulate that medical care includes medical, laboratory, surgical, dental, and other diagnostic and healing services. However, care that is merely beneficial to your general health is not medical care.
The health-related testing would give the taxpayer a deeper understanding of health risks, and the reports could be delivered to a health care provider for additional testing, diagnosis, or treatment.
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