Are Eye Doctor Visits Tax Deductible?

Are Eye Doctor Visits Tax Deductible?

Whether you need to get a new pair of glasses, contact lenses, or even surgery to correct your vision, knowing if these costs are tax deductible can help with budgeting. Depending on the type of expenses and who paid for them, the answer is yes – eye doctor visits may be tax deductible. Let’s explore the question in more detail.

Deduct Eye Doctor Visits

According to IRS Publication 502, medical and dental expenses are generally deductible as long as they exceed 7.5% of your adjusted gross income (AGI). This means that if your AGI is $50,000 and you spend $3,750 on medical and dental expenses during the year, then only the amount over $3,750 would be deducted from your taxes.

Flexible Spending Account (FSA) or Health Savings Account (HSA) 

If you are using a Flexible Spending Account (FSA) or Health Savings Account (HSA), then the money used for eye doctor visits is not taxable at all. FSAs allow employers to set aside pre-tax dollars for employees’ healthcare costs; HSAs are similar in nature but also require that participants have high-deductible health plans. You may also qualify for deductions based on whether or not you pay a Medicare Part B premium; this depends on how much total income you make annually.

Medical vs Non-medical Expenses

The IRS allows a deduction for certain types of eye care services such as corrective lenses or contacts prescribed by an ophthalmologist (eye doctor). However, if you use the prescription to purchase non-prescription eyeglasses or sunglasses then those items are not tax deductible. If any part of the glasses or sunglasses has been prescribed by an ophthalmologist then it can be deducted as a medical expense. Additionally, any surgery performed by an ophthalmologist such as LASIK eye surgery may also be deducted as a medical expense depending on what type of insurance plan was used to pay for it.

Keep Your Receipts!

Eye doctor visits can certainly offer some relief when it comes time to do taxes by providing some valuable deductions that could lower your overall tax bill. In order to take advantage of these deductions however, it is important to remember that only certain types of eye care services qualify such as corrective lenses prescribed by an ophthalmologist and even surgeries like LASIK depending on how it was paid for. Keeping accurate records throughout the year will ensure that all eligible expenses are accounted for when it comes time to file taxes so don’t forget about those important receipts!

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