Saturday, November 14, 2009

Dental tax write offs?

I was wondering if a dental procedure such as veneers can be written off. Does it matter what i have listed on my taxes as my proffesion? It wouldn't be a totally aesthetic reason, i do need dental work, but i figured it might be easier to kill two birds with one stone. Any advise will help. Thank you.

Dental tax write offs?
Dental expenses are deductible if you itemize on Schedule A (subject to the 7.5% of AGI limitation). The veneers "could" be considered cosmetic if the IRS were to examine your return closly. If your profession requires an appearance that would benefit from the veneers that may be helpful. It really depends on the mood of your examiner "if" you are subjected to an examination on the issue.
Reply:IF you itemize you deduction on Sch A you can deduct a portion of the expenses but no where else on the tax return.
Reply:The portion that's for the veneers would most likely be considered cosmetic, so would not be deductible. But dental expenses generally qualify as medical expenses, and can be deducted to the extent that your total medical expenses exceed 7.5% of your adjusted gross income. They can only be deducted if you itemize.
Reply:It can be included in Medical Expenses on Schedule, A if you itemize. But for most people, they don't have enough Medical expenses to reach the 7.5% limitation.
Reply:No, forget it...just get your teeth done, pay in cash and make a deal with your dentist
Reply:Veneers are cosmetic and not deductible.


No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

 
vc .net