Tip of the Week: IRS OKs Medical Expense Deduction for Genetic Testing

Robert Powell

In recent years when presented with the opportunity, the Internal Revenue Service (IRS) has identified a number of expenses as qualifying medical expenses for purposes of the itemized deduction for medical expenses or for qualified distributions from health savings accounts or flexible spending accounts, according to a recent release from Wolters Kluwer Tax & Accounting.

These have included smoking cessation programs, weight loss programs, and gluten-free products for celiac disease. Now, in a private letter ruling, the IRS has spelled out the circumstances under which genetic testing might qualify as a medical expense, according to Wolters Kluwer.

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