Are any over-the-counter medications deductible, and, if so, which ones?

I read that the Treasury Department has a new ruling on over-the-counter drugs as a deduction. Are they deductible, and, if so, which ones?

Well, Richard, the Treasury Department didn't say that over-the-counter medication is a deductible medical expense, but it did say that over-the-counter medication is an expense eligible for reimbursement through flexible spending accounts (FSAs).

Since you need receipts in order to be reimbursed for the over-the-counter medication, you will want to start scanning your receipts for reimbursable expenses.

The types of expenses are aspirin, allergy preparations, and other items purchased to treat or alleviate disease or condition. I would recommend contacting the company that handles your FSA reimbursements to double check what expenses are covered. You will need to remit a copy of your receipt with the name of the medication printed on the receipt in order to get the reimbursement.