Are Eye Exams Deductible?
If you’re wondering whether eye exams are deductible, the answer largely depends on your specific circumstances and tax situation. Under IRS guidelines, eye exams can be considered deductible as part of your medical and dental expenses, provided you itemize your deductions on Schedule A of your tax return. This allows taxpayers to deduct certain qualified medical expenses that exceed 7.5% of their adjusted gross income (AGI).
Qualified Medical Expenses
To qualify for deduction, your eye exam must be related to medical issues or treatments. Routine eye exams, however, typically qualify. This includes exams provided by a licensed optometrist or ophthalmologist. Also deductible are expenses for glasses and contact lenses prescribed during the eye exam.
Documentation and Requirements
Ensure you keep detailed records of your eye exam and related expenses. This includes receipts, appointment confirmations, and any other documentation that can validate the medical necessity of your exam and associated costs.
Consult a Tax Professional
Tax laws can be complex and may vary by jurisdiction. It’s advisable to consult a tax professional for personalized advice tailored to your specific situation. They can help clarify what can be deducted and ensure you are maximizing your tax benefits accurately.