Results 1 to 7 of 7

Thread: Tax Changes for 2011

  1. #1
    Senior Member
    Join Date
    May 2010
    Location
    Chesapeake, VA
    Posts
    589

    Tax Changes for 2011

    For anyone who does like I do and saves receipts for every dollar spent on medically necessary things, laws have changed for 2011.

    In order to be able to deduct out of pocket expenses, or submit them to a medical FSA, you need a prescription from your doctor. This means that even though you do not need a script to purchase magic bullets, you do need one in order to deduct the expense of buying them.

    While medicaid covers Ryan's condom caths for night time use, they do not cover the skin prep wipes (go figure). I had Ryan's doctor give me a prescription slip for these things that I buy that do add up over the year that you do not need a script to buy. Think about it. Our list includes Ryan's occasional laxatives, all his supplements (he takes many), skin preps, cotton balls and alcohol for his Forteo ( I choose not to use the alcohol wipes), disposable gloves (also have kitchen uses). His doc will give me a slip as the year goes on and other things are added to the list. As long as you have a script you can deduct (subject to income limitations and thresholds).

    When you add these things up along with the doctors' copays, deductibles (if applicable), Co-insurance (if applicable), therapy co pays, therapy equipment (need a script), mileage to appointments and therapy, it adds up over the year.

    Get your scrips and put them with your receipts. It may pay off this time next year.--eak

  2. #2
    Senior Member brucec's Avatar
    Join Date
    Jan 2009
    Location
    Virginia Beach, Va
    Posts
    5,658
    good advice, my problem is i can never claim the deduction because it's not over 7.5% of agi
    We must reject the idea that every time a law's broken, society is guilty rather than the lawbreaker. It is time to restore the American precept that each individual is accountable for his actions.
    Ronald Reagan

  3. #3
    Senior Member
    Join Date
    May 2010
    Location
    Chesapeake, VA
    Posts
    589
    Bruce, I only dream of the day when we do not meet the threshold. Between doctor copays, therapy copays, drugs that medicaid does not cover and mileage to therapy & docs, I am spending more than $600 a month of fixed expenses. Add to that the therapy equipment, converted van, home renovations-that are ongoing as we can come up with the $$, and other non-recurring expenses, plus the fact that we are on one income since I cannot find a caregiver willing to come to southern Chesapeake (Cornland HS area) and we have spent any savings we had. We deducted more than 20K this year. I pray that the end is near as it is better to not have to spend the money than it is to get a tax deduction.--eak

  4. #4
    Senior Member flicka's Avatar
    Join Date
    Oct 2004
    Location
    California
    Posts
    3,553
    Very good advice. Looks like you do taxes like I do...I e-filed them about an hour ago.
    Unusual for me considering the deadline isn't 'til Monday.
    We actually get $168 back this year!
    ____________________

    "We are the ones we've been waiting for. We are the change that we seek."
    - Barack Obama

  5. #5
    Senior Member
    Join Date
    Mar 2006
    Location
    connecticut
    Posts
    8,272
    I don't see anything in irs 502 that says you need a prescription to deduct medical expenses on you taxes. For example, they still list bandages as an allowable expense.

    http://www.irs.gov/pub/irs-pdf/p502.pdf

    Am I missing something?

    eta Oh, Duh ..... you said 2011. So I assume this is just going forward?
    Last edited by sjean423; 04-15-2011 at 08:51 PM.
    T7-8 since Feb 2005

  6. #6
    Senior Member
    Join Date
    May 2010
    Location
    Chesapeake, VA
    Posts
    589
    Yes the change is for 2011 but now is the time to start planning. The change actually went into effect in mid January 2011. As long as you have a decent relationship with your doctor, getting the slips should be no big deal.

    FYI, I filed my taxes in mid February, got back over 10K and have spent a big part of it already on things we had been putting off. Before Ryan's injury, we paid every year as the IRS thought we were rich. Now, with only Tom's income, and Ryan's medical expenses, refunds are a way of life. We had no idea that this year's would be so large as Tom still has his withholding as if I was still working. While I know we could have used the money throughout the year, I am just thankful to have a new roof on my house as we had deferred that for too long-we spent that money on Ryan's first power chair two years ago-medicaid did not kick in until he returned from rehab and we had PPO insurance with DME limits and 20% co-insurance.--eak

  7. #7
    Senior Member
    Join Date
    Sep 2007
    Location
    Fithian, IL
    Posts
    1,967
    I will be e-filing in about an hour. I really hate taxes but we too thrive on the refund. Get about 5K back...hooray! Thanks for the heads up.

Similar Threads

  1. When Will The 2011 Honda Van Be Available?
    By sreneet in forum Equipment
    Replies: 21
    Last Post: 02-22-2011, 12:51 PM
  2. No Barriers USA Summit 2011
    By macska in forum Exercise & Recovery
    Replies: 1
    Last Post: 02-12-2011, 12:06 AM
  3. Understanding SCI DVD available in Feb 2011 (FREE)
    By mongreltiger in forum Announcements & Feedback
    Replies: 0
    Last Post: 01-27-2011, 05:42 PM
  4. Roll on Washington 2011
    By Mike Bussolari in forum Announcements & Feedback
    Replies: 1
    Last Post: 08-03-2010, 07:39 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •