02-03-2010, 09:18 AM | #1 | |
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SRS may now be tax-deductible
I think this news is fantastic. This is only one woman who's won and it's not clear yet how or whether this will be applied as a precedent across the board, but it's a big step in the right direction.
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02-03-2010, 09:21 AM | #2 |
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A sound and just ruling. Good for her and thanks to her for standing up for trans-rights.
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02-03-2010, 09:25 AM | #3 |
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Oh and: I have to give kudos to the AP for how they handled the reporting. I saw no snide implications that the decision was wrong or that there was something wrong with the petitioner or that her surgery was in any tax-related qualitative way different from the other surgeries mentioned. The press is evolving toward a more neutral or supporting language for LGBTQ issues, and it's a welcome change.
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02-03-2010, 09:45 AM | #4 |
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Transfolks have been deducting surgery for years. It's kind of been a "Deduct it and see if they call you on it" type o' thing, though. Sometimes, the IRS does, and sometimes they don't.
So, it's nice to see there's actually been some legal precedent set. Thanks For The Link, Dylan |
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02-03-2010, 09:57 AM | #5 |
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I used the medical deduction several years ago. I think the amount had to exceed 6% of your income back then. H&R Block didn't ask for any receipts or anything just the amount. It was the sum of Dr office visits, medication and procedures that weren't covered by insurance and any special equipment needed during that time.
I think the ruling is great though. I guess I didn't realize that it had to be a medically necessary thing to make the deduction. Thank goodness I guess it was 10 yrs ago, so the can't come back on me now. |
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02-03-2010, 10:43 AM | #6 |
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I'm curious......does anyone else who takes ANY medical expenditures (for ANY condition, etc.) off as deductions have to explain, specifically, what those medical expenditures are for?? Wouldn't a requirement for divulging that sort of information be a direct violation of HIPPA regs??
I plan to take my expenses for top surgery off on my taxes. ~Theo~
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02-03-2010, 11:53 AM | #7 |
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Theo,
I itemize, and no I don't have to explain anything, then or now. I also have never been audited. Just group doctor visits together, medicines, equipment, and so on. You will be fine. Dylan & Blade are right. Thanks for the link. I am so glad to see this moving forward positively. Andrew |
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