What is the Origin of IRS Publication 502?

This publication originates directly from the United States tax code, specifically the sections governing itemized deductions for medical and dental expenses. Its purpose is to translate complex statutory and regulatory language into clear, understandable guidance for the general public, taxpayers, and tax professionals. The publication's authority is derived from the Internal Revenue Code, which establishes the rules for all financial transactions related to health services and expenditures.

What is the Mechanism of IRS Publication 502?

The publication functions as a prescriptive guide, clearly defining the criteria for a qualified medical expense, which generally must be incurred primarily for the alleviation or prevention of a physical or mental defect or illness. It specifies which treatments, including prescription medications, laboratory tests, and certain therapeutic procedures, can be included in the total medical expense deduction calculation. By adhering precisely to the guidelines outlined in Publication 502, taxpayers can accurately determine their eligible deductions, thereby potentially reducing their overall taxable income.

IRS Publication 502

Meaning

IRS Publication 502 is an official, comprehensive document issued by the Internal Revenue Service (IRS) in the United States that provides detailed, authoritative guidance on what specific medical and dental expenses are legally deductible on a federal income tax return. For individuals navigating the landscape of hormonal health and wellness, this publication clarifies which costs associated with the diagnosis, cure, mitigation, treatment, or prevention of disease qualify as eligible, tax-deductible medical expenses. It is a critical, legally-referenced resource for ensuring accurate tax compliance related to personal healthcare spending.