Receipts for medical purchases.

[carol b]

You need to keep the receipts for the medications that you
are prescribed. You can use these on your taxes. The copays
also apply.
When you purchase over the counter medications and such things
as first aid supplies you need to keep these receipts also. You have
a certain amount that can be claimed and I suggest that you use as
much as you possibly can.
The tax man isn't shy about taking your money so don't be shy about
taking his. Check out the IRS website for a list of what you can use.
You could however just ask you tax preparer about these and many
other deductions. I hope that you can use this information and that
it helps you when you prepare you taxes next year.

[moneysense]

Thats great information. Walmart does offer $4 prescriptions on certain antibiotics, etc, but some like Kflex, which is an antibiotic, is not covered on this plan and a weeks worth of this antibiotic can run around $75.

Also knowing that the replacement of items in your first aid kit is deductible is also important to know, as these items can be used up very quickly in just one accident or emergency.

[I-luvmoney]

This is great information but is there a certain amount that you have to have paid out before you can claim it and is there a form that you have to have along with the deductions the pharmacy will however print you out a pay amount of what you have spent on meds

[pennypinch]

This is wonderful information. I had no idea you could turn these in on your taxes. Thankfully I haven't had to spend a lot of money on meds or bandages but my grandparents spend thousands each year on medicine. If they could get just some of that money back it would be great for them. They basically just have enough money for meds, bills and food each month so this will be great news for them. Thank You!

[moneysense]

This thread reminded me that I heard on the radio this morning that Krogers is offering quite a few more prescriptions under their $4 plan.

Plus now, they offer 90 day supplies of covered medications for $10. And this should be a big help to especially the elderly.