Tax time!

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seasnail
Posts: 144
Joined: Sat Aug 17, 2013 5:42 pm

Tax time!

Postby seasnail » Wed Jan 28, 2015 4:00 pm

Hi all,

I had a quick question that maybe someone knows the answer to off the top of their head.

I read that we can claim medical expenses here in the US on our tax form. Is this how much we paid in 2014? Like directly to the hospitals for charges and for prescriptions and to insurance? Basically anything out of pocket? And if it's over 10% of our AGI we can claim it?

I guess I'm not even sure how to find all the information on how much we paid, and if I have it wrong, don't want to take what little time I already have (ha) to do it for nothing. And then of course I'd have to figure out how to actually file (only ever did a 1040 EZ). Ugh.

Anyhow, thanks for any help! :)
Caregiver to dh
Diagnosed 8/13 stage IV 3 liver mets 1 lobe age 46
8 rds Folfiri/Avastin/5FU 9/13-12/13
Rad 1/14 (28 days) w/ADAPT
Surgery 5/1/14 temp ileo
5/13/14 pathology, complete response in liver
6/14 ADAPT for next 1.5-3 years
7/14 clean scan
9/2/14 ileo reversal
12/14, 2/15, 7/15 clean scans, fingers crossed!

Nik Colon

Re: Tax time!

Postby Nik Colon » Wed Jan 28, 2015 4:04 pm

Yes, anything, copay mileage rx, etc. You can call each doc and ask them to send you the dates and amts, call the pharma to get how much you spent, calculate mileage to and from. All of it! I think it's 7.5 not 10. I could be wrong tho

midlifemom
Posts: 1358
Joined: Wed Jan 15, 2014 10:58 am
Location: NJ

Re: Tax time!

Postby midlifemom » Wed Jan 28, 2015 4:07 pm

Only exception, you can't claim most otc meds, like Tagamet unless you have a script for it. Butt, certain otc like contact lens solution can be claimed. There is a list online of which otc can be claimed.
Stage 3 cc - dx Jan '14 age 53, cea 2.9
t2n2m0, KRAS mutant, MSS
Folfox Feb - Aug '14
Nov '14 cea 27.7 -2 liver masses
Dec '14 left lobectomy and HAI
Jan '15 FUDR and FOLFIRI
Aug '15 fudr done, liver clear, add avastin for lungs. Cea 4.3
Feb '16 CEA rising
May '16 2 wk break then drop Iri for 6 weeks.
Jul '16 cancer grew, constricted main bile duct. Stent inserted. On break till jaundice clears. CEA climbing. Doing reduced Folfox. Allergic to Oxali.
Sep'16 chemo failed. Trial or hospice?

lhawk0730
Posts: 171
Joined: Mon Oct 27, 2014 10:49 pm

Re: Tax time!

Postby lhawk0730 » Wed Jan 28, 2015 4:16 pm

I'm a tax preparer and accountant. Co-pays, prescriptions, mileage are all medical expenses. Just don't include amounts paid by, or reimbursed by your insurance. Yes, the threshold went up to 10%, unless you (or your spouse) are 65 or older. I don't know how you normally file, but Turbo Tax online is fairly inexpensive and will calculate the allowable deduction (if any). Be aware of the new health insurance mandate for 2014. If you both weren't insured, I suggest paying a professional for filing purposes. Feel free to PM me specific questions. Hope this helped.
Daughter to Mom, age 71
Dx 10/14 RC - T3bN1bM0
Chemoradiation til 1/15
Surgery 2/15
Temp ileostomy
Failed Xelox round 4/15
1 round straight Xeloda 5/15 - discontinued
Ileo reversal 5/15
8/15 more Xeloda

Carolinabluetec
Posts: 415
Joined: Wed May 28, 2014 11:52 am
Location: Greenville, SC

Re: Tax time!

Postby Carolinabluetec » Wed Jan 28, 2015 4:37 pm

Fortunately they have not started taxing Cancer (yet).
Last edited by Carolinabluetec on Wed Jan 28, 2015 5:19 pm, edited 1 time in total.
03/14 DX Adenocarcinoma Sigmoid Polyp
05/14 Da Vinci Sigmoid Colectomy
06/14 T3N0Mx, staged IIa
07/14 Xeloda 3000 mg/day 14 on/7 off 8 rounds
12/14 Finished Chemo
01/15 CT NED :D
07/15 Colonoscopy NED :D
08/15 CT NED :D
03/16 CT NED 8)

Nik Colon

Re: Tax time!

Postby Nik Colon » Wed Jan 28, 2015 4:43 pm

Carolinabluetec wrote:Fortunately they not started taxing Cancer (yet).

NO SHIT! Damn taxes :evil:

Nik Colon

Re: Tax time!

Postby Nik Colon » Wed Jan 28, 2015 4:44 pm

lhawk0730 wrote:I'm a tax preparer and accountant. Co-pays, prescriptions, mileage are all medical expenses. Just don't include amounts paid by, or reimbursed by your insurance. Yes, the threshold went up to 10%, unless you (or your spouse) are 65 or older. I don't know how you normally file, but Turbo Tax online is fairly inexpensive and will calculate the allowable deduction (if any). Be aware of the new health insurance mandate for 2014. If you both weren't insured, I suggest paying a professional for filing purposes. Feel free to PM me specific questions. Hope this helped.

It's up to 10 now! Wtf! Can we say BUTT F'D

Carolinabluetec
Posts: 415
Joined: Wed May 28, 2014 11:52 am
Location: Greenville, SC

Re: Tax time!

Postby Carolinabluetec » Wed Jan 28, 2015 5:26 pm

ritz75 wrote:
lhawk0730 wrote:I'm a tax preparer and accountant. Co-pays, prescriptions, mileage are all medical expenses. Just don't include amounts paid by, or reimbursed by your insurance. Yes, the threshold went up to 10%, unless you (or your spouse) are 65 or older. I don't know how you normally file, but Turbo Tax online is fairly inexpensive and will calculate the allowable deduction (if any). Be aware of the new health insurance mandate for 2014. If you both weren't insured, I suggest paying a professional for filing purposes. Feel free to PM me specific questions. Hope this helped.

It's up to 10 now! Wtf! Can we say BUTT F'D


This was one of those sneaky little things that were part of Obamacare that no one talked about. "You have to pass the bill to find out what is in it."
03/14 DX Adenocarcinoma Sigmoid Polyp
05/14 Da Vinci Sigmoid Colectomy
06/14 T3N0Mx, staged IIa
07/14 Xeloda 3000 mg/day 14 on/7 off 8 rounds
12/14 Finished Chemo
01/15 CT NED :D
07/15 Colonoscopy NED :D
08/15 CT NED :D
03/16 CT NED 8)

weisssoccermom
Posts: 5976
Joined: Thu May 10, 2007 2:32 pm
Location: Pacific NW

Re: Tax time!

Postby weisssoccermom » Wed Jan 28, 2015 5:36 pm

Also an accountant here but NOT a tax preparer....don't forget that your dental expenses, eyeglasses (Rx) are also included. If your doctor has Rx'd massage therapy and your insurance doesn't cover it, don't forget those bills as well. Big IF, but IF you paid for your insurance premiums with AFTER tax dollars, then yes, those premiums are also covered. However, almost exclusively, if you receive your insurance from your employer, those premiums are taken out with pre-tax dollars and therefore not eligible. An example of premiums paid that would count towards your medical deduction would be, for example, if you paid COBRA premiums. Don't also forget that if you had to pay for parking (and you a have a receipt) while you were at the doctors/hospital, etc. then those expenses can also be included.
If, for example, you need special shoes because are a diabetic, those expenses are also eligible. Just think beyond the 'typical' idea of medical expenses...remember your dental, your eyeglasses, mileage, parking, etc.
Dx 6/22/2006 IIA rectal cancer
6 wks rad/Xeloda -finished 9/06
1st attempt transanal excision 11/06
11/17/06 XELOX 1 cycle
5 months Xeloda only Dec '06 - April '07
10+ blood clots, 1 DVT 1/07
transanal excision 4/20/07 path-NO CANCER CELLS!
NED now and forever!
Perform random acts of kindness

seasnail
Posts: 144
Joined: Sat Aug 17, 2013 5:42 pm

Re: Tax time!

Postby seasnail » Wed Jan 28, 2015 5:49 pm

Wow, thank you all so, so much! This forum is such a wealth of knowledge!!

I'll definitely reach out if I have more questions - seems like I should stick with Turbotax (everything else is really straight forward) so will start calling the hospitals to see if I can get the statements, check it against our income, and go from there. Thank you all again!!
Caregiver to dh
Diagnosed 8/13 stage IV 3 liver mets 1 lobe age 46
8 rds Folfiri/Avastin/5FU 9/13-12/13
Rad 1/14 (28 days) w/ADAPT
Surgery 5/1/14 temp ileo
5/13/14 pathology, complete response in liver
6/14 ADAPT for next 1.5-3 years
7/14 clean scan
9/2/14 ileo reversal
12/14, 2/15, 7/15 clean scans, fingers crossed!

User avatar
betsydoglover
Posts: 978
Joined: Mon Aug 14, 2006 2:31 pm
Facebook Username: Betsy Lindh Williams
Location: Maryland - outside DC

Re: Tax time!

Postby betsydoglover » Wed Jan 28, 2015 6:24 pm

If you have had insurance this year, then most ins companies have websites where you can create an account. You can list all your claims and how much you paid - usually you can download this info into spreadsheet input, but even if you can't, you can get the data without having to call hospitals, docs etc. Makes it a lot easier.
Betsy
diag. Stage IV, 5/05, liver met
lap sigmoid colectomy, 6/05
6 cycles Xeloda/oxaliplatin/Avastin (NED after 2)
11/08 9x13mm right lower lobe lung nodule; removed via VATS 4/09
NED
6 cycles Xeloda + Avastin
Avastin only 10/09-5/11
Still NED 06/18

midlifemom
Posts: 1358
Joined: Wed Jan 15, 2014 10:58 am
Location: NJ

Re: Tax time!

Postby midlifemom » Wed Jan 28, 2015 6:30 pm

And if you've used the same pharmacy, they can produce a list of what you paid them all year.
Stage 3 cc - dx Jan '14 age 53, cea 2.9
t2n2m0, KRAS mutant, MSS
Folfox Feb - Aug '14
Nov '14 cea 27.7 -2 liver masses
Dec '14 left lobectomy and HAI
Jan '15 FUDR and FOLFIRI
Aug '15 fudr done, liver clear, add avastin for lungs. Cea 4.3
Feb '16 CEA rising
May '16 2 wk break then drop Iri for 6 weeks.
Jul '16 cancer grew, constricted main bile duct. Stent inserted. On break till jaundice clears. CEA climbing. Doing reduced Folfox. Allergic to Oxali.
Sep'16 chemo failed. Trial or hospice?

weisssoccermom
Posts: 5976
Joined: Thu May 10, 2007 2:32 pm
Location: Pacific NW

Re: Tax time!

Postby weisssoccermom » Wed Jan 28, 2015 8:09 pm

My suggestion before you go and try to get receipts, etc. is to first estimate your adjusted gross income because that's what the 10% is based off of. If, for example, you have an AGI or say $75,000, then anything over $7500 would be deductible. Now, if your insurance policy has an out of pocket maximum of, for example, $4,000 you have to ask yourself whether or not all the other categories (mileage, copays ....as these generally don't go towards the out of pocket max....dental, eyeglasses, eye exams, Rx, etc.) would total more than $3500 to reach above that $7500 (remember this is just an example). If there is no way that it would....and not even be close, then don't worry about it. You have to make that call but my point is if the 10% threshold is going to be impossible to meet, don't spend your time running around trying to get all your other financial information.
Dx 6/22/2006 IIA rectal cancer
6 wks rad/Xeloda -finished 9/06
1st attempt transanal excision 11/06
11/17/06 XELOX 1 cycle
5 months Xeloda only Dec '06 - April '07
10+ blood clots, 1 DVT 1/07
transanal excision 4/20/07 path-NO CANCER CELLS!
NED now and forever!
Perform random acts of kindness

Nik Colon

Re: Tax time!

Postby Nik Colon » Wed Jan 28, 2015 9:04 pm

How I feel about taxes
Liar Liar: http://youtu.be/l-rNIAN5o5M

"Take it up the tail pipe" (so fitting on this forum) :mrgreen:

midlifemom
Posts: 1358
Joined: Wed Jan 15, 2014 10:58 am
Location: NJ

Re: Tax time!

Postby midlifemom » Wed Jan 28, 2015 9:13 pm

I forget the details, (thx chemo), but I know the deductible percent is different for federal and for state, at least it is in NJ. Since we paid Cobra last year (taxable), and it doesn't go towards out of pocket max, we will hit the 10%.
Stage 3 cc - dx Jan '14 age 53, cea 2.9
t2n2m0, KRAS mutant, MSS
Folfox Feb - Aug '14
Nov '14 cea 27.7 -2 liver masses
Dec '14 left lobectomy and HAI
Jan '15 FUDR and FOLFIRI
Aug '15 fudr done, liver clear, add avastin for lungs. Cea 4.3
Feb '16 CEA rising
May '16 2 wk break then drop Iri for 6 weeks.
Jul '16 cancer grew, constricted main bile duct. Stent inserted. On break till jaundice clears. CEA climbing. Doing reduced Folfox. Allergic to Oxali.
Sep'16 chemo failed. Trial or hospice?


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