Q&A

Can I claim medical marijuana on my income taxes?

"Claiming medical marijuana on income taxes. "


That is a very interesting question. I will break this down into a few answers:

  1. The federal government does not recognize medical marijuana as being a valid form of medicine and it is federally illegal so in terms of taxes on that level definitely not.

  2. In terms of the state level, although cannabis may be legal it is not something you can claim on in terms of healthcare expense or otherwise, for healthcare deductions for instance.

  3. In terms of making money off of cannabis, if you are earning an income, then yes you must pay taxes on that.

I hope this helps.

pamelahadfield

Facebook
Twitter
LinkedIn
Pinterest
What you'll find in this article
    Add a header to begin generating the table of contents

    Related Q&As

    Question and Answer

    What is Kief?

    โ€œ’Kiefโ€™ is one of those words Iโ€™ve heard in connection to weed, but Iโ€™m not sure what it means. Is it something to do with hash?โ€

    Anton C.

    Read More ยป
    Scroll to Top

    The perfect dose of cannabis content

    Delivered right to your inbox. Sign-up for news, advice, product recommendations and more.

    By signing up for Perfect Dose, you agree to our Terms of Use and Privacy Policy.