This is a quote from LouLou in our forums:
“One of the most valuable pieces of advice I have gotten from this site was from Julie regarding taking tax deductions for medical, supplement, electric and FOOD. I always knew this was possible but thought the task was too daunting. She was kind enough to share a spreadsheet she'd created to track all the information. I did it in 2005 and got back thousands of dollars I wouldn't have gotten back otherwise. It was so advantagous to do that I recently redid my 2004 taxes!!
Please note that these expenses must exceed 7.5% of your taxed income to take as a deduction.”
You can visit the forum thread to discuss.
DISCLAIMER: The following is for your information. You may want to take it to an accountant to see if this works for you and your circumstances in the US. This is not a recommendation from www.cysticfibrosis.com
From Julie who generously shares her research and spreadsheets with all of us!
Research:
CFF
Tips for Food Expense Deductions from the Cystic Fibrosis Foundation
USDA
Official USDA Food Plan: Cost of food at home at Four Levels.
Julie’s 2005 Food, Supplements/Medical EXAMPLE Spreadsheet with Comments
Inside the excel spread sheet, there are some comments to help you understand and utilize the spreadsheet. If you scroll your mouse over the comments, it should pop up so you can read them.
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