Medical deduction for drugs? supplements?

No. The law requires that the substance can't be obtained OTC.

OTC can be paid for through Health Savings Accounts and the accounts where you put a little money away with your employer and it is forfeited at the end of the year and whose name currently escapes me. I know this isn't what the OP asked, but it might be an option to consider this year or next.

The name is "FSA - Flexible Spending Account".

It is rather strange that you can pay for OTC drgs with FSA, but can't deduct them on Schedule A. The FSA form might ask for a letter from your doctor stating that you need this OTC medicine, though I'm not sure if this is required by law.

Can't say for sure with the FSA (thanks for the reminder), but my HSA manual says OTC can be reimbursed, period. Maybe I should use that ability to buy some Ginko for my memory (g).

Not a bad idea, but REMEMBER....! you then have to remember to take the pills!

(now where did I put my memory pills?)

ChEAr$, Harlan Lunsford, EA n LA

It makes no sense that OTC drugs cannot be deducted on schedule A. Aren't you supposed to exclude any FSA reimbursements from schedule A medical deductions? If those include OTC drugs it would not be fair to have to subtract an amount including OTC drugs from a number that does not include them.

========================================= MODERATOR'S COMMENT: No one ever suggested that the tax code was either fair or made any sense.

Write your members of Congress and tell them. They love to hear from constituents, especially in election years.

Amedicaldeductions? If those include OTC drugs it would not be fair

Yes, you do have to include reimbursements. So if your doctor's visits were $600, and FSA paid $500, you could only report $100 on Schedule A before the 7.5%. If OTC drugs were deductible, the same rule would apply.

If you write to your congress person as Phil suggests, you can also suggest lowering the threshold from 7.5% to 5%, and making (part of) medical expenses not added back to AMT :).

Why not eliminate the deductable altogether. After all we are talking about the sick and wounded. while we are at it why not get rid of AMT altogether.

altogether.

Because the AMT is (almost) the flat tax you dreamed of. ;-)

And here, all along, I thought that the flat tax that everyone dreams of is the revenue-neutral tax that lowers everybody's tax bill! ;-D