It is tax time my friends and I believe I am confused. You tell me what you believe. I was so used to taking a deduction for Out of Pocket Medial Expenses and mileage I am lost, thinking that my husband and I should be doing that now that we have retired.

My husband says we can not do this because we have no working income coming in. I can not find this in the tax book and am tired of holding the phone hours for a human at the other end of the phone at IRS.

My special high end medicines make it in possible to live and nothing is available in the way of assistance with these meds. Those special meds. are not old enough to have a generics.

Any suggestions out there?

Chele

Views: 14

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Good morning, Chele. I am a volunteer with the AARP TaxAide program, preparing tax returns for many individuals each year. You should certainly claim out-of-pocket medical expenses and mileage to/from medical visits in your itemized deductions. (There is a 7.5% threshold for medical expenses. This means that you have to deduct 7.5% of your adjusted gross income from your unreimbursed medical expenses, then deduct the remainder. Schedule A takes you through the process.)
Go to the IRS web site. There you should find an answer.
To add to Gerry's note , your taxable income includes your pension and annuity income , Soc Sec Income and any IRA withdrawals not from a Roth IRA at a Federal Level to find an adjusted gross Income.

Your state Income is based on what state you live in.
Your social security may or may not be included in your taxable income. It is dependent on the amount of other income you have.
David do you have the IP for the IRS Website?

Go to:

Hope this helps.
http://www.irs.gov/

In some locations, there is a local IRS office that offers tax forms and answers to questions about taxes. You could check your phone book to see if there's one in your area.

It MIGHT still take hours, but at least you wouldn't have to hold the phone, and should reach at least one human much faster.

Also, I've posted several links earlier to the discussion on Free Stuff that SOMETIMES help with free medicines.

Also, you might ask your doctor if there are cheaper medicines that work almost as well for your problems.

One more idea - you might search this website for any clinical trials in your area on medicines for your problems, but so new that they haven't been tested adequately to get the FDA's approval to charge for them. Not quite as safe as using only approved medicines, but better than nothing. They are allowed not to offer any help with expenses for getting there and back, and usually don't.

http://clinicaltrials.gov/

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