acct 827 parts of the code example

acct 827 parts of the code example - is insulin OMITTED...

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PARTS OF CODE- EXAMPLE § 213 Medical, dental, etc., expenses. (a) Allowance of deduction. There shall be allowed as a deduction the expenses paid during the taxable year, not compensated for by insurance or otherwise, for medical care of the taxpayer, his spouse, or a dependent (as defined in section 152 , determined without regard to subsections (b)(1) , (b)(2) , and (d)(1)(B) thereof), to the extent that such expenses exceed 7.5 percent of adjusted gross income. (b) Limitation with respect to medicine and drugs. An amount paid during the taxable year for medicine or a drug shall be taken into account under subsection (a) only if such medicine or drug is a prescribed drug or
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Unformatted text preview: is insulin. OMITTED PARTS (d) Definitions. For purposes of this section — (1) The term “medical care” means amounts paid— (A) for the diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affecting any structure or function of the body, (B) for transportation primarily for and essential to medical care referred to in subparagraph (A) , (C) for qualified long-term care services (as defined in section 7702B(c) ), or OMITTED PARTS (3) Prescribed drug. The term “prescribed drug” means a drug or biological which requires a prescription of a physician for its use by an individual....
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