Tax Deductions for Cosmetic Surgery

Video Transcript

"Tom Choisnet, enrolled agent. I am going to go into medical expenses because in the present climate where we have things such as liposuction and cosmetic surgery, and the other elective surgeries that seem to be abound in today's society, the government specifically says that cosmetic surgery is not deductible, but that seems to be more policy than law and I'm going to read something here about it. Medical expenses are defined as expenses incurred in diagnosis, cure, mitigation, treatment, or prevention of disease, and, get this one, or for the purpose of affecting any structure or function of the body. So under that particular definition, that would seem to include cosmetic surgery, so it's one for discussion, and certainly if you're judicious about it and have other medical reasons for incurring such surgery, you can think of some things, it's certainly one for discussion and cover it with your tax accountant, or certainly make up your mind whether or not you're going to deduct some of it, if not all. Thank you. Take a look at some of my other clips, and I've got some other ideas. In fact, this one continues with medical, the second part. Thank you."