Tax deductions offer a tried-and-true way to help you reduce your money stress by lowering your tax bill.
Some of these deductions are truly strange, however. Despite being weird, you can take advantage of them — although you should always confer with a tax professional to make sure you qualify and that you don’t run afoul of the IRS.
Here are 10 bizarre deductions that are surprisingly real.
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A new swimming pool
The swimming pool you built at your home may qualify for a partial deduction as a medical expense — depending on what your accountant and the IRS have to say.
Your doctor must prescribe swimming as medical treatment to qualify for the deduction. Only the costs related to the medical modifications (e.g., special lifts, ramps) are deductible.
However, the IRS will likely want to determine whether you are using the pool for medical reasons.
Damages from a ransomware attack
Ransomware is the bane of many businesses. Hackers breach computer systems with malicious software, encrypt business data, and then demand money to unlock it.
While the federal government advises against paying the ransom, it might let you deduct the money you paid to get your information back. Bear in mind that you will have to prove precisely what went down. And the deduction is not guaranteed.
Resolve $10,000 or more of your debt
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Prescription drugs that help you quit smoking
Kicking a smoking habit is no easy task. One way smokers try to quit is through over-the-counter patches and nicotine gum — but this tax deduction does not cover those.
What it does cover are prescribed medications designed to make your body less dependent on nicotine. They count as a medical expense.
Hiring a baby sitter while you do good works
Much to the chagrin of parents across America, child care is not typically deductible. But there is one exception to the rule.
If the only way you can volunteer for charity is by hiring a babysitter, the sitter’s fees themselves count as charitable contributions.
Body oil for professional bodybuilders
Most people who buy body oil to make their skin feel better cannot deduct the cost.
However, professional bodybuilders can deduct the cost of oil since it’s necessary for their profession. They can itemize ordinary expenses, including body oil, which makes their muscles shine.
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Gym memberships for those under a doctor’s orders
To deduct a gym membership, a doctor must diagnose you with a specific medical condition, and the gym has to be used as part of the treatment.
It might be difficult to deduct the cost of the gym if you were already a member before the diagnosis, however.
Some types of cosmetic surgery
This does not pertain to what many people think of as “cosmetic surgery” in the TV or tabloid sense.
Instead, the IRS says it is limited to surgery that helps “ameliorate a deformity arising from, or directly related to, a congenital abnormality, a personal injury resulting from an accident or trauma, or a disfiguring disease.”
Costs associated with a service animal
Pets are wonderful for all sorts of reasons. In addition to being great companions, they can also help reduce stress and anxiety.
Service animals are lifesavers for people with disabilities. The costs of buying, training, and maintaining a service animal for visual, hearing, or physical disabilities can be deducted.
Such expenses include food, grooming, and veterinary care to keep your best friend healthy.
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Gambling losses
You win some, you lose some: Oddly enough, there can be a benefit to losing.
Gambling winnings are taxable, but gambling losses are deductible. There are a few caveats, of course. You can only deduct gambling losses if you itemize deductions on Schedule A (Form 1040) and maintain a record of your winnings and losses.
Deductions cannot exceed your reported gambling income. Report gambling losses up to your winnings under "Other Itemized Deductions."
Lawn care for some business owners
If you own your own business and run it out of your home, you might be able to write off your lawn care expenses as a business expense.
The argument for doing so is that if clients come to your home, it needs to look good if you're going to project a professional image.
Bottom line
Make no mistake: the IRS will check out your deductions. So, don’t try to pull a fast one on Uncle Sam.
But if you qualify for any of the deductions on this list, taking them can help you get ahead financially.
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