Submitted By: Bill
Answered: March 11, 2016 12:28 pm

Can I deduct my mileage for driving to a pharmacy to pick up my monthly prescriptions?

Yes, if you have a record of your driving. The rate for driving for medical purposes is 23 cents per mile in 2015 and 19 cents per mile in 2016.

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Tax Glossary

Accrual method of accounting

A business method of accounting requiring income to be reported when earned and expenses to be deducted when incurred. However, deductions generally may not be claimed until economic performance has occurred.

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