Tax Tip #197

It’s time for a Q&A with G&L.

Question: Is marijuana/cannabis permitted as a medical deduction for federal tax purposes, assuming it is used for medical reasons?

Answer: The amount paid for federally illegal controlled substances such as marijuana/cannabis is not permitted as a medical deduction. However, some states have legalized the use of cannabis. Therefore, in the states that permit medical deductions on their tax returns, it is possible a tax deduction is allowed for cannabis use.

Want to know more about a particular state? Contact a Goldstein & Loggia team member for assistance.