If you have hearing loss, you may qualify for special tax deductions for hearing-care-related expenses that can help reduce your overall tax burden—and keep more money in your pocket.
Enlisting the help of an accountant to determine your eligibility is always a good idea, but here’s some general information about the IRS tax deductions that everyone with hearing loss should know.
How Much Can I Claim?
If you itemize deductions instead of using the standard deduction, you can claim uninsured medical and dental costs, including those pertaining to hearing health care, as a tax-deductible expense.
However, your overall uninsured medical and dental expenses must collectively total more than 7.5% of your adjusted gross income (AGI) for you to claim them as an itemized deduction. For example, if your AGI is $60,000, you may deduct the cost of any qualifying medical expenses over $4,500.
What Expenses Can I Claim as a Deduction?
Uninsured hearing health costs you can claim as a medical expense include payments for:
- Hearing aids, batteries, repairs and maintenance
- Telephone equipment, including captioned phones, phones with special ringers and teleprinters, as well as their repair costs
- TVs and related accessories that provide captioning and amplify sound, as well as their repair costs
- Improvements to your home for special burglar alarms, smoke detectors and doorbells
- Transportation to and from hearing health appointments
Are Hearing Device Donations Tax Deductible?
Yes, but only if you itemize deductions rather than taking the standard deduction. You can claim a deduction for the fair market value of any hearing device you donated during the previous tax year.
Help Your Hearing and Your Budget
Hearing better is priceless—it can enhance communication skills, improve relationships and allow you to rediscover your zest for life. For people with hearing loss who don’t have insurance that covers hearing devices or accessories, tax deductions can make their hearing health costs more manageable. If you’re struggling to hear, don’t put off getting help for any reason—financial or otherwise. Schedule a hearing evaluation today.
“Everyone is nice and very efficient.”