Diapers as Qualified Medical Expenses: Relief for Parents
This act allows parents to include the cost of disposable infant diapers as qualified medical expenses. This means that money spent on diapers can be paid for using Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs), potentially providing financial relief to families. These changes will apply to taxable years beginning after the act's enactment.
Key points
Disposable infant diapers will be recognized as qualified medical expenses.
Parents can use HSA and FSA funds to pay for diapers, potentially reducing their tax burden.
The changes will take effect for taxable years starting after the act becomes law.
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