August 2nd, 2008 in Cash Pay Advance |
associated with the transaction as a medical expense on schedue A?
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As long as you paid the bill in 2006 you can deduct it on your 2006 return. How you got the money to pay the bill doesn’t matter.
NO..and only the amount of the medical expense that exceeds 7.5% of your AGI is deductible.
As the previous answer described, only the amount of medical expenses exceeding 7.5% of your adjusted income can be deductible on Schedule A.
You can include actual medical expenses only not interests or fees associated with obtaining the money for medical expenses.
Best wishes.
You can deduct the medical expense, it doesn’t matter where you got the money as long as it wasn’t reimbursement to you, but not the interest.
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August 4th, 2008 at 9:12 am
As long as you paid the bill in 2006 you can deduct it on your 2006 return. How you got the money to pay the bill doesn’t matter.
August 5th, 2008 at 8:55 pm
NO..and only the amount of the medical expense that exceeds 7.5% of your AGI is deductible.
August 7th, 2008 at 4:17 pm
As the previous answer described, only the amount of medical expenses exceeding 7.5% of your adjusted income can be deductible on Schedule A.
You can include actual medical expenses only not interests or fees associated with obtaining the money for medical expenses.
Best wishes.
August 9th, 2008 at 10:12 am
You can deduct the medical expense, it doesn’t matter where you got the money as long as it wasn’t reimbursement to you, but not the interest.