Medical Mari jane and taxes

[denverbear]

Has any one been able to claim Medical Marijuana on thier taxes...since my insurance does not cover this I believe I should be able to claim my funds paid for on my taxes since it is Doctor prescribed and just like any other medicine I should be able to claim it on my long form... interesting thought at tax time... :thumbsup:
discuss

[DirtayeSanchez]

I don't know, but great idea.

[frostedwonder]

If you file itemized deductions all or most out of pocket medical related bills can be accounted, check out local gov web site

[DirtayeSanchez]

Damn, I should have kept those receipts!

[senorx12562]

Has any one been able to claim Medical Marijuana on thier taxes...since my insurance does not cover this I believe I should be able to claim my funds paid for on my taxes since it is Doctor prescribed and just like any other medicine I should be able to claim it on my long form... interesting thought at tax time... :thumbsup:
discuss
It's a moot point unless you; 1.meet the threshold amount for deducting medical expenses (medical expenses > 7.5% of AGI), and 2. get audited.

[sarah louise]

... since it is Doctor prescribed and just like any other medicine ...

But it isn't prescribed, to use cannabis you need a doctor's recommendation, not a prescription. Subtle difference maybe, but I'm sure the tax collectors know the difference.

[denverbear]

But it isn't prescribed, to use cannabis you need a doctor's recommendation, not a prescription. Subtle difference maybe, but I'm sure the tax collectors know the difference.

I think your thoughts are reversed as we have the Dr.'s recomdation just not a written prescription but at the same time when I buy my insulin all I need to do is buy a box of needles as my insulin prescription tell's the pharmasist that I need needles to take my insulin..not much differance and as far as my thinking it is a necessisity to buy to take the other medicine...I honestly think it should be covered as a prescription on my long form as I do have the amount needed to claim it on my taxes. and at 300 dollars plus a month that is an added 3600 dollars a year on my legal medicine.

[senorx12562]

Since it isn't prescribed, maybe they will treat it like other recommended substances, like fish oil or ibuprofen, i.e. not deductible. I think that is more likely, especially given the govt's love of both tax deductions and cannabis.

[denverbear]

Since it isn't prescribed, maybe they will treat it like other recommended substances, like fish oil or ibuprofen, i.e. not deductible. I think that is more likely, especially given the govt's love of both tax deductions and cannabis.
I know I have to take a low dosage asprin everday since my bypass and according to my accountant I can claim asprin on my taxes just like any cold medicine I buy over the counter as well.

[senorx12562]

I know I have to take a low dosage asprin everday since my bypass and according to my accountant I can claim asprin on my taxes just like any cold medicine I buy over the counter as well.
Like I said, it only matters if you get audited anyway, so give it a shot and let us know if it works out. Ask your accountant if I can deduct all my lights, nutes, utilities, meters, soil, pots, fans,trays, domes,etc., etc., etc., would ya? Let me know,eh?

[copobo]

the IRS is a federal agency.

that's all I have to say about that, until we are off Schedule I and Federal Law (not some memo) protects us.

[sarah louise]

I think your thoughts are reversed as we have the Dr.'s recomdation just not a written prescription but at the same time when I buy my insulin all I need to do is buy a box of needles as my insulin prescription tell's the pharmasist that I need needles to take my insulin..not much differance and as far as my thinking it is a necessisity to buy to take the other medicine...I honestly think it should be covered as a prescription on my long form as I do have the amount needed to claim it on my taxes. and at 300 dollars plus a month that is an added 3600 dollars a year on my legal medicine.

I don't. The difference is that your doctor, not only recommends the use of insulin for diabetes, but s/he also prescribes a certain type of insulin at a certain dosage range. The needles are just equipment, same as my prescription for asthma medication also covers the reusable plastic inhaler that comes separately. I don't need secondary documentation for a new inhaler, I just ask the pharmacist when I need one.

Good luck with it all. If you decide to do it, let us know the results. If successful there are a lot of people who could possibly get the government to foot some of the bill.