Message Font: Serif | Sans-Serif
No. of Recommendations: 1
I recently found out that I'm going to have some significant medical expenses this year. I have insurance but between the amounts that insurance doesn't cover, the insurance cost and my out of pocket expenses, I may qualify for the medical deduction. I'll have to wait until the end of the year to see if I can get over the 7.5% threshold.

My question is how to document my expenses to make sure everything is covered. I've read through Publication 502 and I think I know what's covered, but I'm not sure about documenting everything. (My taxes are very simple and so I'm not that familiar with all the rules.) I have copies of all my bills but I'm more concerned about documenting things like transportation costs, mileage, etc. Is an Excel spreadsheet OK for documenting these expenses? I assume I need a receipt every time I need to take a taxi, if I'm not able to drive myself? What about parking fees? The medical center does not give receipts for parking fees (I've asked). These are small amounts ($3 for parking, maybe $10 for taxi fares) but they do add up.

This is a more obscure question, but if I buy a software program to track my diabetes testing results, would that be deductible? I didn't see that in 502.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.