Need to know how to get a tax deduction on Lasik? Lasik eye surgery is allowed as a deduction per U.S. Code section 213, although interpretation is everything. Most accountants, though, do see Lasik as deductible. Lasik eye surgery corrects a defect and, per Code 213, does not meet the definition of cosmetic surgery. U.S. Code 213 (9) (B) states: "For purposes of this paragraph, the term 'cosmetic surgery' means any procedure which is directed at improving the patient’s appearance and does not meaningfully promote the proper function of the body or prevent or treat illness or disease." Lasik does, in fact, promote the proper function of the body, as the eyes are corrected and sight is improved. For some patients, Lasik is the only option over being legally blind. So, in theory at least, it is quite legal to get a tax deduction on Lasik. And, when one is spending from $2,000 to $4,000 on the procedure, the tax deduction may be appreciable.
- To get a tax deduction on Lasik, first calculate your adjusted gross income (AGI). As always when dealing with the IRS, there are pesky rules, and in order to claim a tax deduction on Lasik, your medical expenses for the tax year must be more than 7.5% of your AGI. Depending on your income, you may add a tax deduction for Lasik surgery.
- Add up all of your Lasik surgery-associated costs, along with any other medical expenses for the year. Don't forget about "hidden" costs, such as travel expenses to and from the surgery spot. Since you cannot drive home, if you take a taxi, get a receipt and file it away. It will be tax deductible.
- Fill out your tax forms and itemize the medical expenses as a deduction. It's that simple to get a tax deduction on Lasik!
Depending on your tax situation, you might not want to chance an IRS audit, and adding a tax deduction for Lasik may raise a red flag with the IRS. It's always best to check with a qualified certified public accountant to make sure you aren't calling attention to your 1040! If your spouse or dependant children need Lasik surgery, have it all done in the calendar year so you raise above the 7.5% threshold.