We know hearing aids can be a major expense. Wouldn’t it be nice to get some of your money back on your taxes? As you prepare to file your taxes this year, you may find the following information helpful in deducting your hearing aid costs and other hearing loss related expenses.
Keep in mind our expertise at Hearing Lab is hearing aids, not tax filing. The following information is accurate to the best of our knowledge. If you have questions please contact your tax professional.
Medical expenses, including hearing aids, can be claimed if you itemize your deductions. The stipulation here for most people is that your medical expenses must total more than 10 percent of your adjusted gross income.
Hearing Aid Costs
Hearing loss expenses that the IRS consider medical expenses include: hearing aids, hearing aid batteries, hearing aid repairs, and hearing aid maintenance costs. Telephone and television equipment that amplifies sounds or provides captioning also qualifies. Don’t forget about any home safety items you’ve purchased, such as special smoke detectors and alarms and their installation costs.
If you don’t think you meet the 10% threshold check this list of qualifying medical expenses first. Some other common medical expenses include: prescriptions, eyeglasses, and insurance premiums, which may help push you over that 10% mark.
If you still don’t meet the 10% rule, this is the last year you may qualify for an exemption. It allows anyone 65 and older to claim medical expenses that total just 7.5% of their adjusted gross income.
Anyone with hearing loss in the workforce can also deduct expenses for items necessary to perform their jobs. These are considered business expenses and can include things like:
- Special telephones or video conferencing equipment
- Internet connection for video relay
- Other computer or telephone accessories
According to Turbo Tax people with hearing loss sometimes qualify for the Disability Tax Credit and the Earned Income Tax Credit. Visit their website here to read more about qualifying for those credits.
At this time there is no Hearing Aid Assistance Tax Credit, despite efforts by representatives in both the house and senate in 2015. We hope to see the issue brought up again in 2017.
Hopefully you find this information helpful as you try to take full advantage of deducting your hearing aid costs.