Remember that if you have enough Medical Expenses it might be worth mentioning them on your Federal Tax returns.
Last year was a bigger year for medical expenses for me because of the following:
- One of my daughters ruptured her ACL, and there was a fair amount of expenses there, including a brace and physio therapy.
- I needed physio therapy for my knee, due to me getting old
- My other daughter also had physio
- Some visits to Psychologist for testing for my kids
- Occupational Therapy for another kid
Now a great deal of this was covered under my health plan, but only up to 80% of the expense, and there was a limit to how much was paid for the year.
All of this adds up to over $7000 in expenses, but I must also then put in how much compensation I received from my Health insurance as well. It may add up to nothing, but it is something to think about.
How Â was I able to know this? I checked on my Quicken, of course (sorry for the blatant plug, but it is actually the case in this instance). I put it all into my TurboTax (or you could use UFile as well) and it was easy enough to put it all in too (another blatant plug, but stay tuned there will be a giveaway coming too).