Have you bought hearing aids for yourself or a dependent in your immediate family in the past year? Do you still have the receipts? You may be pleased to hear that hearing aids are tax deductible if you’re itemizing medical expenses on your 2018 federal income taxes. In fact, you can also claim for associated costs such as hearing aid batteries. Below we explain more about how to get a tax deduction for hearing aids this tax season.
How To Claim
Before you begin itemizing your medical expenses for the past year, you must first determine if it makes sense to do so. If your total out-of-pocket healthcare expenses in 2018 exceeded 7.5% of your adjusted gross income (AGI), any medical expenditures above 7.5% can be itemized on your tax return. This threshold increases to 10% for the 2019 tax year, so take advantage of this opportunity if you are able to. To ensure you’re maximizing your potential deductions, we recommend speaking to a tax adviser to determine if itemizing your medical expenses makes sense for your 2018 tax returns.
Typical Hearing Related Items You Can Claim For:
- Hearing aids, batteries and associated costs for maintenance & repairs.
- Equipment to connect with your phone i.e. captioned phones, phones with special ringers, or teleprinters. Associated repairs costs may be covered also.
- Televisions and sound amplifying accessories. Closed caption provision as any repair costs
- A guide dog plus veterinary, grooming and food expenses.
- Rewiring your home with special smoke detectors, burglar alarms, alert systems or doorbells.
You May Not Claim:
- Any medical insurance coverage provided by your employer.
- If you’ve purchased hearing aids for a member of your household, you may only claim these on your tax returns if that individual is your dependant.
Note: If you have a Flexible Spending Account (FSA) or Health Savings Account (HSA), we recommend speaking to a tax advisor as deduction rates differ. If this is your first claim or you have tax related questions, please consult a professional for advice.
Another way to receive a deduction is through a non-cash donation to a qualified organization such as Lion’s Club’s HARP Program. Bear in mind, the rate of deduction is relative to the market value of the donated device at the time of donation.
Don’t let cost prevent you from the hearing care that you deserve. For more than 25 years, Sutton Hearing & Balance has provided comprehensive hearing care services to patients in Manhattan and across the five boroughs. To arrange an appointment with our experienced audiologist Dr. Aaron Krasnick, please call (212) 786-5741 or click here to request an appointment online.