North Carolina H1074 allows a tax deduction for unreimbursed out-of-pocket prescription drug expenses up to $5,000.

North Carolina H1074 introduces a tax deduction for unreimbursed out-of-pocket prescription drug expenses, up to $5,000. This deduction applies to expenses not covered by tax-favored accounts like Flexible Spending Accounts or Health Savings Accounts. The deduction is effective for taxable years beginning on or after January 1, 2026.

North Carolina H1074 allows a tax deduction for unreimbursed out-of-pocket prescription drug expenses up to $5,000.

North Carolina H1074 introduces a tax deduction for unreimbursed out-of-pocket prescription drug expenses, up to $5,000. This deduction applies to expenses not covered by tax-favored accounts like Flexible Spending Accounts or Health Savings Accounts. The deduction is effective for taxable years beginning on or after January 1, 2026.