Can I deduct private paid medical bills from my taxes? If so.....
how much can i deduct?
2006-07-17 05:25:57 · 14 answers · asked by lovebird 1 in Politics & Government ➔ Government
yes you can but it needs to be more than x percentage of your taxable income. I think for 30k/yr, you a little more than 5k before you see a kick back on your taxes.
2006-07-17 05:28:40 · answer #1 · answered by Migity696 3 · 1⤊ 0⤋
Depends on some states but usually you can deduct any amount over a certain percentage of your income. It works this way so you can't deduct the usual expenses but if you have a major illness or something, you are able to deduct those.
In the future you might want to look into a medical savings plan that lets you put some pre-tax money aside to pay for medical costs. In the past you would lose the money you didn't spend during that year, but now they have done away with the downside.
2006-07-17 05:30:44 · answer #2 · answered by butnozzle 2 · 0⤊ 0⤋
As long as you weren't reimbursed for any of them by your employer, than yes. However, you have to meet a certain amount before they are considered a true deduction (and that depends on your income level). You would be better off talking to an accountant, but keep all of your receipts!
2006-07-17 05:30:49 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Check with your tax man for sure, but I think you have to have some in deductions in order to itemize.
2006-07-17 05:28:40 · answer #4 · answered by mt92501 4 · 0⤊ 0⤋
We had a LOT of medical bills one years - have NEVER made a lot of money and we still couldn't deduct them because it wasn't "enough."
2006-07-17 05:28:25 · answer #5 · answered by butterfliesRfree 7 · 0⤊ 0⤋
Yes, but you have to file an itemized return and your bills have to be somewhere between 1 and 3% of your earnings (i forget the exact number).
2006-07-17 05:32:58 · answer #6 · answered by John J 6 · 0⤊ 0⤋
You can deduct all your medical bill if they are up to 7.50% of your salary. I hope this info help you
2006-07-17 05:29:46 · answer #7 · answered by Jersey girl on Florida. 5 · 0⤊ 0⤋
Only if you itemize your deductions.
If not, then thet are already included in your standard deduction (which was $5,000 last I checked).
2006-07-17 05:29:16 · answer #8 · answered by Rjmail 5 · 0⤊ 0⤋
i think once it is over a certain amount you can, atleast in california, go talk to a tax consultant.
2006-07-17 05:28:08 · answer #9 · answered by TONY B 3 · 0⤊ 0⤋
Yes you should be able to... just take them with you when you go to file and they should be able to help you!! good luck
2006-07-17 05:28:16 · answer #10 · answered by Melonie M 4 · 0⤊ 0⤋