Are prescription glasses tax deductible?
The money spent on reading or
We're often asked if prescription reading glasses are tax deductible. The answer is no. Reading glasses are considered a medical or personal expense. Glasses cannot be claimed in your tax return unless it's protective wear such as sunglasses, or the kinds of safety eye protection used on worksites etc.
Glasses & Contacts
Unfortunately, you can't claim tax back for routine eye care, such as vision tests or buying glasses or contact lenses. However, the good news is if you pay PRSI, you can get the cost of a sight test covered through the Treatment Benefit Scheme.
You may be surprised to learn that the money you spend on reading or prescription eyeglasses are tax deductible. That's because glasses count as a “medical expense,” which can be claimed as an itemized deductible on form 104, Schedule A.
Unreimbursed payments for prescription medications and appliances such as glasses, contacts, false teeth and hearing aids are also deductible. The IRS also lets you deduct the expenses that you pay to travel for medical care, such as mileage on your car, bus fare and parking fees.
There are 10 optical voucher values. The value of a voucher ranges from £42.40 to £233.56, depending on the strength of the lenses you need. If, for clinical reasons, you need tints or prisms in your glasses, the value of the voucher will be higher to reflect this.
You can deduct the costs for prescription eyeglasses and eye exams on your tax return. But they must be a part of your itemized medical deductions, which need to exceed 7.5% of your adjusted gross income.
In essence, statutory consumer rights state that if the service or product supplied is defective then you are entitled to a refund or replacement. If you are unhappy in any way, the statutory authority suggests speaking to the optician and explain your concerns.
In addition, you can only deduct unreimbursed medical expenses that exceed 7.5% of your adjusted gross income (AGI), found on line 11 of your 2024 Form 1040. For example, if your AGI is $50,000, the first $3,750 of qualified expenses (7.5% of $50,000) don't count.
Sell to Collectors. You'd be surprised at how many people are interested in buying old glasses online. Maybe they collect them or maybe they have your same prescription, but you can earn a few extra bucks while selling glasses to someone who wants them.
Are vision bills tax deductible?
While vision insurance itself isn't tax deductible, you can deduct vision insurance premiums from your taxes, just like health and dental insurance. But again, they can't be paid for by an employer. You can also deduct certain unreimbursed vision expenses as itemized deductions like: Eye exams.
Medical expenses are the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and for the purpose of affecting any part or function of the body. These expenses include payments for legal medical services rendered by physicians, surgeons, dentists, and other medical practitioners.
Additionally, the cost of prescription glasses, including frames and lenses prescribed to correct vision, can also be deducted. Elective surgeries like LASIK, and Refractive Lens Exchange are generally deductible. These procedures can significantly improve vision and reduce dependence on glasses or contact lenses.
If you itemize deductions, you can deduct unreimbursed medical and dental expenses that exceed 7.5% of your adjusted gross income. The IRS lets you deduct expenses for many medically necessary products and services. These include surgeries, prescription medications, and dental and vision care.
Dogs, cats, and other household pets are expensive. It costs an average of $1,270 to $2,800 a year to own a dog. Unfortunately, the expenses you incur for a family pet that provides you only with love and companionship are never deductible: they are purely personal expenses.
You can include health insurance premiums in your medical expense calculations. However, certain premiums are not eligible for medical expense deductions. You cannot include the following premiums in your tax deductions: Life insurance policies.
Having diabetes can make us more susceptible to certain health issues and so people with diabetes qualify for free sight tests and, if your diabetes is treated with medication, no prescription charges. To qualify for free prescriptions, you need to apply for a medical exemption certificate.
Buy your glasses online
You may find better pricing by bypassing stand-alone optometry stores or chains. More than half of consumers who bought their glasses online spent less than $100 on them, compared with a third of those who made the purchase in person, according to data from the Vision Council.
Updated July 8, 2024 – Whether you've abandoned your eyeglasses for a more fashion-forward pair or have switched to wearing contacts full-time, don't let your old glasses collect dust in a drawer – donate them to charity for a tax deduction!
If your glasses are solely needed for work purposes, you can claim the cost back against tax. But as always, make sure you're able to prove this and that you don't wear them for personal reasons.
What can I write off on my taxes?
- Alimony payments.
- Business use of your car.
- Business use of your home.
- Money you put in an IRA.
- Money you put in health savings accounts.
- Penalties on early withdrawals from savings.
- Student loan interest.
- Teacher expenses.
The IRS allows a deduction for certain types of eye care services such as corrective lenses or contacts prescribed by an ophthalmologist (eye doctor). However, if you use the prescription to purchase non-prescription eyeglasses or sunglasses then those items are not tax deductible.
You can't claim a deduction for prescription glasses or contact lenses, even if you wear them while working. These are private expenses.
Recycle. If you have a pair of frames that are broken beyond repair, don't just toss them in the trash! Most common materials found in frames qualify as recyclables. If you're getting new lenses along with your frames, the lenses are also recyclable.
Your prescription eyeglasses will be considered a qualified medical expense if they correct vision-related conditions, such as: Myopia (nearsightedness) Hyperopia (farsightedness)
