Can Medical Marijuana Be A Tax Write-Off?
Joe | Aug 06, 2010 | Comments 3
The answer to that question is and always has been “no,” according to an article in The Huffington Post. But a gray area may have been opened up by an official at the I.R.S. in a letter to a citizen.
In response to a question about whether an unspecified herb used to treat migraines can be considered a medical expense, the IRS agent issued three prerequisites that qualify the purchase of an herb as a medical expense, according to a blog post by Paul Caron, a law professor at the University of Cincinnati College of Law, published with help from Roger McEowen, an agricultural law professor at Iowa State University, on TaxProf.com.
Although cannabis does meet the prerequisites, federal law prohibits controlled substances from being deducted as medical expenses. So the long answer to the question in the title is “it should be, but it’s not because the federal government is screwing you again.” We should be used to this by now, but the fact is that no matter how much we advance in the states, the feds will always be an impediment; at least until the laws are changed at the federal level.
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[...] See original posting here: http://the420times.com/2010/08/can-medical-marijuana-be-a-tax-writeoff/ [...]
Up here in Canada you can get a write off for medical cannabis, since it is run at the federal level BUT ( and this is a big but)you have to submit receipts from the federal grower. If you buy the crap the Canadian Government produces, you deserve all your money back. Their idea of medicine is taking the ENTIRE PLANT and putting it through a chipper so you end up with medicne you can not use that has about 60% of the mass made up of stems and bottom leaves(and there are NO buds to be found, just a bunch of powder). For this unuseable crap they charge 5 bucks a gram. It may be worth 5 buck a kilogram, because you would need that much to get what you need as a medicine and you will have to do all the hard work of cleaning the junk out the kilo. I am starting to rant because I am upset that I am a legal cardholder, but I do not get any write offs. That will have to change.
I love this post.