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Submitted By: Bill
Answered: March 11, 2016 12:28 pm
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
Nonrecourse financing
Debt on which a person is not personally liable. In case of nonpayment, the creditor must foreclose on property securing the debt. At-risk rules generally bar losses where there is nonrecourse financing, but an exception applies to certain nonrecourse financing for real estate.
