is over the counter medication tax deductible
If so, you may be eligible for the medical expense deduction. In total, you must spend more than 10% (7.5% if you are age 65 or older) of your Adjusted Gross Income (AGI) on medical expenses in order to possibly benefit from the tax break.onât forget to include the cost of insulin and prescription drugs â but note that over-the-counter (OTC) medicines are not deductible. Perhaps somewhat surprisingly, OTC equipment and supplies can be deductible, however.
Prescription Requirements. The same deduction rules apply for prescribed over-the-counter medicine and regular prescription drugs. The prescription must be written or transmitted to the pharmacy electronically by a medical professional with the legal authority to prescribe medication.o if a doctor tells you to take 100 mg of aspirin every day, and you go buy a bottle of 100 mg tablets at a drugstore, the cost isn't deductible. But it is deductible if the doctor writes you a prescription for the same bottle.