2006-11-09 08:22:05 · 4 answers · asked by Michelle M 1 in Business & Finance ➔ Taxes ➔ United States
It's how much you actually paid in that year - if you charged it to a credit card that year but didn't pay the credit card off, it still counts. Any charges that were reimbursed by insurance or any other party can't be deducted, it's only what you actually paid yourself. If you paid part of a bill in a particular year, that part is all you can deduct.
Only the amount that is over 7.5% of your income can be deducted, and then only if you itemize.
2006-11-09 08:55:14 · answer #1 · answered by Judy 7 · 2⤊ 0⤋
It's how much you had to pay.You cannot write off the money your insurance paid for.
2006-11-09 16:34:48 · answer #2 · answered by aum 3 · 0⤊ 0⤋
It's how much you had to pay, and there is a minimum amount before you can get credit for it. It has to be a certain percentage of your annual income.... So a bunch of co-pays won't be enough to count...
2006-11-09 16:28:45 · answer #3 · answered by Hillary 2 · 1⤊ 0⤋
It's how much you had to pay.
Sorry, no break for money you didn't spend.
2006-11-09 16:23:47 · answer #4 · answered by Phoenix, Wise Guru 7 · 2⤊ 0⤋