"D.F. Manno" <dfm2a3l0t2[at]spymac.com> wrote:
- quote -

No. A Revenue Ruling was issued last year that was clear
based on the statute (which was also clear) that medications
that CAN be purchased without a prescription are not
deductible.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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D.F. Manno <dommanno[at]yahoo.com> wrote:
- quote -

No, since they are available without a prescription.

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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D.F. Manno wrote:

- quote -

No--again because Congress said such medications were not
deductible under the IRC as medical expenses, though they
"count" as medical expenses in other tax related contexts
(such as reimbursements from FSAs or HSAs).

--
Ed Zollars, CPA
Phoenix, Arizona

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D.F. Manno wrote:

- quote -

No. In fact, if covered by your insurance, they should
either be taxable to you or your insurance should be
non-deductible, as not being "medical insurance" under
the law.

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D.F. Manno wrote:

- quote -

Additional note: if you have a prescription for
prescription medication which is ALSO available OTC, then
that is allowable as a medical deduction. Although
"Prilosec OTC" is available OTC, Prilosec is still a
prescription drug in different dosages or form. Prilosec
OTC is NOT deductible.

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"D.F. Manno" <dfm2a3l0t2[at]spymac.com> writes:

- quote -

No. The key is whether the medication is available without
a prescription. If it's available OTC it doesn't matter
whether the doctor writes it on a prescription form or a
cocktail napkin; it's not deductible.

Phil Marti
Topeka, KS

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"HW \"Skip\" Weldon" <skip5700removethis[at]hotmail.com> wrote:
- quote -

My doctor will write me prescriptions for OTC medications.
That way they're covered by my insurance. If I had to pay
for them, would they then be deductible because a doctor
prescribed them?

--
I'm D.F. Manno, and I don't approve of George Bush's message.

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David Woods, EA, ChFC, CLU" <dwoods[at]woods-financial.comwrote:

- quote -

Where all of this gets confusing with non-tax pros is that
some OTC meds (aspirin, antacids, etc., but not vitamins)
are reimbursable from pre-tax flexible spending accounts.
So until tax-deductions catch up with the curve, you might
see if your employer offers a medical FSA.

-HW "Skip" Weldon
Columbia, SC

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GarySport wrote:

- quote -

No, because the Congress (remember, those guys that want
your vote this November) wrote it into the law that
nonprescription drugs are *NOT* deductible for Schedule A
purposes.

Any complaints should be directed to your various
Congress-critters (1 in the House and 2 in the Senate).

--
Ed Zollars, CPA
Phoenix, Arizona

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GarySport <garysport[at]aol.comjk.net> wrote:

- quote -

The insturctions for Pub 502 says you can deduct Allowable
Medical Expenses. If you can obtain this drug over the
counter it is not an allowable medical expense and is not
deductible.

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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"GarySport" <garysport[at]aol.comjk.net> wrote:

- quote -

Whether it is questioned isn't the point now, is it? Over
the counter medications are not deductible.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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garysport[at]aol.comjk.net (GarySport) writes:

- quote -

Nope. This is the other side of high dosages of, for
example, ibuprofin. You could take a bunch of OTC pills or
the doctor can write a prescription for the high dosage
pills, which are available only with a prescription. The
former is not deductible, the latter is.

Phil Marti
Topeka, KS

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GarySport wrote:

- quote -

It's not deductible. Sorry.

On the other hand if you have a HFSA (Healthcare flexible
spending account), your expenses for prescribed vitamins,
even if not requiring a prescription, may be allowable for
reimbursement.)

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Normally the IRS pub. 502 says non-prescription medications
such as vitamins cannot be deducted as a medical expense. I
had been prescribed a prescription drug (a high-dose
formulation of the vitamin niacin) for lowering blood
lipids.

A large number of people cannot tolerate this timed-release
prescription formulation of this vitamin because of side
effects, so when I couldn't tolerate it, my doctor put me on
high doses of over-the-counter niacin at a level he
instructed and adjusts. But since no prescription is
necessary, I buy it the cheapest way, which is off the shelf
in the vitamin section of Walmart or wherever, spending
about $200 per year on it. It is a well-known and accepted
treatment for this problem, and has indeed lowered my
lipids. Am I able to deduct these purchases for this
vitamin even though I have no written prescription? On my
Sched. A, it merely asks for the total medical expenses and
doesn't subcategorize them anyway, so it is unlikely to even
be questioned when lumped with the others. Thanks.

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