Are Prescription Glasses Deductible?
Prescription glasses can be considered a deductible expense under the category of Medical and Dental Expenses on your tax return. According to the IRS guidelines, you can deduct the cost of prescription eyewear if you itemize your deductions on Schedule A of your Form 1040.
Eligibility for Deduction
To qualify for the deduction, the expenses must be necessary for medical care. This means that the glasses should be prescribed by a qualified healthcare professional for the purpose of correcting vision. Over-the-counter glasses or sunglasses do not typically qualify for this deduction.
Limitations on Deductions
Keep in mind that only the portion of your total unreimbursed medical expenses that exceeds 7.5% of your adjusted gross income (AGI) is deductible. Thus, if your medical expenses, including prescription glasses, don’t exceed this threshold, you won't be able to claim the deduction.
Record Keeping
It’s important to maintain adequate records and receipts for the purchase of prescription glasses. This documentation will be necessary if you’re audited by the IRS and need to substantiate your claim for the deduction.
Conclusion
In summary, prescription glasses are typically deductible as a medical expense, provided that you meet the eligibility requirements. Always consult with a tax professional for personalized advice.