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Tag: sanitizer

Covid masks and hand sanitizer can get you a tax break, IRS says

In this articleIRSA3-ARLuis Alvarez | DigitalVision | Getty ImagesAmericans can get a tax break this filing season for masks, hand sanitizer, sanitizing wipes and other personal protective equipment to prevent the spread of Covid-19, the IRS announced Friday.The tax code lets taxpayers deduct medical costs that exceed 7.5% of their adjusted gross income each year. The IRS is counting costs incurred for PPE as a medical expense that qualifies for the tax break.More from Personal Finance:Filing separately may help get unemployment tax breakStudent loan borrowers could face a higher tax bill this yearIt's harder to avoid reporting income from online salesFor example, individuals with $ 100,000 of income in 2020 can deduct medical costs of more than $ 7,500 from their tax bill. You need to i...