Lasik Eye Surgery FAQ:
like how exactly do i do it? do i need to do anything specific now, with any forms? if so which ones? also im not sure what itemizing means, how do u itemize? like what exacly do you have to do to itemize something?
should i just wait until i file my taxes next year and tell my tax person? i will be paying for it out of pocket cause the insurance doesnt cover and its going to be on june 11th. i make about 35000 a year and the lasik is 4250
like how exactly do i do it? do i need to do anything specific now, with any forms? if so which ones? also im not sure what itemizing means, how do u itemize? like what exacly do you have to do to itemize something?
should i just wait until i file my taxes next year and tell my tax person? i will be paying for it out of pocket cause the insurance doesnt cover and its going to be on june 11th. i make about 35000 a year and the lasik is 4250
{ 2 comments… read them below or add one }
$4250 – 7.5% of 35,000 = $1625 of medical deduction for schedule A.
Your standard deduction is $5450 for singles in 2008.
Unless you have lots of other medical expenses, gifts to charity, state income tax, mortgage interest, etc, it won’t do you any good.
(Save the receipts just in case. If you were on an HSA, you could make some of the payment from pre-tax dollars.)
You will able to get some benefit of deduction only if you have other itemized deductions so that the total is more than the standard deduction. If you itemize, you don’t get standard deduction.
Read about medical expense deduction and itemized deductions: