Publication 502

Publication 502

A form published by the IRS explaining the tax treatment of dental and medical expenses.
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IRS Publication 502 serves as a starting point to determine whether an expense is qualified or not and is not the ending point as the facts and circumstances matter.
IRS Publication 502 provides a good definition of a qualified medical expense:
Although vasectomy and pregnancy test kits, weight loss programs and contacts and/or vision correction surgery have been allowable medical deductions, according to IRS Publication 502 (http://www.
gov and search for Publication 502, Medical and Dental Expenses.
For more information, see IRS Publication 502 (Medical and Dental Expenses).
10) See IKS Publication 502, Medical and Dental Expenses, and Sec.
TABLE 1 Allowable limits on HDHP and HSA accounts High-deductible health plan (HDHP) Minimum deductible: Individual $1,050 Family $2,100 Maximum out-of-pocket spending Individual $5,000 Family $10,000 Health savings account (HSA) Maximum annual contribution Whichever is lesser: the HDHP deductible, or Individual $2,600 Family $5,150 TABLE 2 Qualified CDHC medical coverage beyond traditional services Certain alternative medicine therapies Substance abuse therapy Ambulance service Medical equipment and home remodeling related to medical requirements Reproductive health services Vision, hearing aides, and dental care Certain health insurance premium costs Long-term care Medications and home oxygen Mental health services Source: Internal Revenue Service Publication 502.
More information about the deductibility of long-term care insurance plans can be round in IRS publication 502, Medical and Dental Expenses.
In IRS Publication 502, Medical and Dental Expenses, it states, "you can include in medical expenses the cost of medical care in a nursing home or home for the aged for yourself, your spouse, or your dependents.
HSAs apply to anything where the services purchased qualify on publication 502, issued by the IRS," adds Moussavi.