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#4
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| Dick Adams wrote: - quote - > NadCixelsyd <nadcixelsyd[at]aol.com> wrote:
Your medical deductions are still allowed under AMT, but with a higher> > Can one deduct the cost of a face lift or tummy tuck? > My favorite answer: It depends. > So if your AGI is $120,000, you have to have $9,000 in > allowed medical espenses before it's worth discussing. > And then you have to be concerned about the notorious > Alternative Minimum Tax wiping out your Schedule A > deductions. 10%-of-AGI threshhold instead of 7.5%. - quote - > If you are gainfully employed (as is the woman who
If your employer allows it...> supports me), you should have a Flexible Spending Account > for Health Care expenses. And if you are *not* gainfully employed (or even if you are), you can have a Health Savings Account (HSA), which is almost as good, taxwise. -Mark Bole -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#3
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| NadCixelsyd <nadcixelsyd[at]aol.com> wrote: - quote - > Can one deduct the cost of a face lift or tummy tuck?
My favorite answer: It depends.The general rule is NO. There are exceptions which have been mentioned in other responses. The point I want to make is that allowed medical expenses are deductible less 7.5% of your adjested gross income. So if your AGI is $120,000, you have to have $9,000 in allowed medical espenses before it's worth discussing. And then you have to be concerned about the notorious Alternative Minimum Tax wiping out your Schedule A deductions. If you are gainfully employed (as is the woman who supports me), you should have a Flexible Spending Account for Health Care expenses. So if a tummy tuck or a face lift is an allowable deduction for you, it's should be a better tax planning strategy to get it reimbursed from there than to risk losing the deduction to AMT. Dick -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#2
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| kamlet[at]panix.com (Arthur Kamlet) wrote: - quote - > From IRS Publication 502:
It seems to me that male patern baldness is a congenital abnormality.> You generally cannot include in medical expenses the > amount you pay for procedures such as face > lifts, hair transplants, hair removal (electrolysis), > and liposuction. > You can include in medical expenses the amount you pay > for cosmetic surgery if it is necessary to improve a > deformity arising from, or directly related to, a congenital > abnormality, a personal injury resulting from an accident or > trauma, or a disfiguring disease. It's just not abnormal enough, I suppose. Stu -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#1
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| "Arthur Kamlet" <kamlet[at]panix.com> wrote in message news:ggut6n$cfa$1[at]reader1.panix.com... - quote - > In article
In other words, some other specific event or thing must have happened in<70933b81-35d9-40d4-a6d7-ac913b500406[at]c1g2000yqg.googlegroups.com> , > NadCixelsyd <nadcixelsyd[at]aol.com> wrote: > > Can one deduct the cost of a face lift or tummy tuck? > The code does not permit deductions for "Unnecesary Cosmetic Surgery." > > From IRS Publication 502: > You generally cannot include in medical expenses the > amount you pay for procedures such as face > lifts, hair transplants, hair removal (electrolysis), > and liposuction. > You can include in medical expenses the amount you pay > for cosmetic surgery if it is necessary to improve a > deformity arising from, or directly related to, a congenital > abnormality, a personal injury resulting from an accident or > trauma, or a disfiguring disease. order to make it medically necessary or [medically] desired -i.e. it is not entirely cosmetic. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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| In article <70933b81-35d9-40d4-a6d7-ac913b500406[at]c1g2000yqg.googlegroups.com> , NadCixelsyd <nadcixelsyd[at]aol.com> wrote: - quote - > Can one deduct the cost of a face lift or tummy tuck? The code does not permit deductions for "Unnecesary Cosmetic Surgery." - quote - > From IRS Publication 502:
You generally cannot include in medical expenses theamount you pay for procedures such as face lifts, hair transplants, hair removal (electrolysis), and liposuction. You can include in medical expenses the amount you pay for cosmetic surgery if it is necessary to improve a deformity arising from, or directly related to, a congenital abnormality, a personal injury resulting from an accident or trauma, or a disfiguring disease. -- ArtKamlet at a o l dot c o m Columbus OH K2PZH -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
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| Can one deduct the cost of a face lift or tummy tuck? -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| cosmetic, expense, medical, surgery |
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