I paid 00 cash for laser eye surgery this summer and have no flex account. I do not itemize my taxes & take the standard deductions. 15% bracket. Any options?
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I paid 00 cash for laser eye surgery this summer and have no flex account. I do not itemize my taxes & take the standard deductions. 15% bracket. Any options?
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No not as a tax deduction when you are using the standard deduction on the 1040 tax form.
Apparently you already know the other rules for the schedule A itemized deductions and the 7.5% limit of your adjusted gross income before you can use any of your medical expense along with all of your other itemized deductions.
Eye Surgery
You can include in medical expenses the amount you pay for eye surgery to treat defective vision, such as laser eye surgery or radial keratotomy.
http://www.irs.gov website search box for Publication 502
Hope that you find the above information useful and good luck
Definitely not unless you itemize deductions. Review IRS Publication 502.
Medical expenses are only an itemized deduction and, even then, only to the extent that the total exceeds 7.5% of your income.
Don’t itemize = No deduction
Most likely not. You can only deduct medical expenses if you itemize, and then can only deduct the amount that’s over 7.5% of your AGI.
Medical expenses are deductible only if you itemize you deductions and additionally medical deductions are subject to an exclusion of an amount equal to 7.5% of your AGI. So it is very unlikely that you will receive any tax benefit from the laser eye surgery but hopefully you will be able to better read the tax code to look for other benefits.
depends on your AGI
medical expenses, if you can itemize in the first place, have to exceed 7.5% of your AGI, and I rather doubt $3800 does that