Don’t like that widening bald spot? The good news is it may lead to a tax deduction. The IRS allows patients with hair loss traced traced to a disease to write off the cost of a wig, if a doctor recommends buying one.
The bad news: Deductions for hair transplants are a lot harder to get. Regardless of the reason for the hair loss – age, illness. etc. – the IRS categorizes hair transplants as cosmetic surgery, which is usually nondeductible. Taxpayers can only write off cosmetic surgery if it is directly related to certain circumstances, such as injuries.
