self pay IPP tax deductible?

[Jage64]

I'm wondering if I can claim this as an approved medical expense on my taxes, as it's an approved Medicare cost to address something as important as sexual health. I've read that women can deduct breast implants after cancer surgery or a mastectomy, seems I should be able to deduct the cost of making my dick work again. I see IRS language referring to prostheses, but nothing specifically about penile implants.

Anybody in the field know much about the tax situation for us self-payers? I'd probably rather not have a discussion with my CPA about it until I know if it's even a possibility.

[wolfpacker]

Yes I claimed it on my taxes back in 2021 when I had my surgery. Got me a few thousand back in tax refund. Haven't been audited yet lol!

[newbie443]

I second the yes. I do my own taxes and keep your hotel travel and eating out receipts. Some of that may have been removed this year. No need to tell your CPA what you had done. Just that it was for medical services. As I remember the travel and lodging and meals were in a different section. I have not had that for 6 years and my computer tax service only asks me about something if I had it last year.

[ED2013]

Yes you can claim it

[ippg12]

If you paid out of pocket it will be tax deductible but only that portion above 10 percent of income
For example
If your income is 100k upto 10k is not eligible
If your income is 200k upto 20 k is not eligible
So you can figure out how much tax deduction you can get
Chance of audit is less but keep all receipts in case

[Lost Sheep]

In tax class, my instructor said, "If you come out of an audit with the IRS owing you money, your tax preparer did not do a proper job." The meaning of that is that when preparing a tax return, take every deduction you possibly can (justify). If the IRS disallows it and the reasoning behind the deduction is legitimate, you just owe the tax and maybe some interest, but no penalty. If you don't take the deduction, you will never get the benefit.

Just for safety's sake, you might set aside the tax money you will owe if the deduction is disallowed.

This is from a guy who was so assiduous that he took a deduction for business travel from his place of full-time work to the college where he was an adjunct professor. Even though he drove right past his house at suppertime, he brown-bagged his dinner. The thing is, if he stopped at his house to heat, the travel distance from his fulltime work to his house and from his house to the college would not be deductible. But since he traveled from one place of work to another place of work WITHOUT stopping at his house, the entire distance traveled was deductible.

If you don't take the deduction, you certainly will not get it. If you do take the deduction you probably will. And there is virtually no downside to trying.

[Gt1956]

My understanding mirrors the other posters. In my state. They were a year or two behind implementing the Federal deductable increase. So the following year I made out real well with some deductions that fell in the $10k exclusions but I got full benefit on my state return.

This wasn't medical related but an expense like medical that falls in the $10k deductible net. I say to claim anything that you can make an intelligent argument that some paragraph in the instructions says its allowed. You seldom get a penalty if the instructions seem to support your deduction. Of course the tax & perhaps interest will need to be paid if you're wrong.

If the instructions don't at the very least vaguely support your deduction? That is when you might get hit with a penalty. When in doubt, claim it. Let them deny it if they can actually find it. Most returns get very little if any scrutiny.