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Old 04-27-2007, 10:37 PM
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CharlesinCharge CharlesinCharge is offline
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Your point is very well taken, as I did the same thing. For most of us, medical expenses are never large enough to deduct. You are only allowed to deduct the amount above 7.5% of your Adjusted Gross Income, and so since most people have medical insurance and their out of pocket expenses are limited to co-payments and prescriptions, they never pay out enough to really use the IRS deduction. My ADR surgery was just over $31,000 and I deducted every bit of it on my taxes (well, the amount that was over 7.5% of my Adjusted Gross Income). That was something like a $21,000 deduction and it led to a $9,000 refund, which meant my surgery actually cost $22,000 instead of $31,000. Since I am a CPA I was aware of the medical deduction rules, but anyone who has ADR surgery and has to pay for it themselves should definitely keep all their receipts and talk with their accountant.
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Charles B. Fainberg
Back pain suddenly started 9/05, no injury or cause
PT, Chiropractic, Epidural Injections - no help
DDD confirmed via discogram at L4/L5 & L5/S1 (with issues at L3/L4 but no concordant pain) 3/06
Failed SED (Laser Endoscopic surgery) 4/06
2 level ADR (L4-L5 & L5-S1) with Maverick disc at Stenum 8/06
XLIF Fusion (L3/L4) 9/08
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