taxes or 2007
2006-12-28 06:20:57 · 6 answers · asked by You may be right 7 in Business & Finance ➔ Taxes ➔ United States
The year in which the bill is paid is the year in which you can deduct it. Call and find out how much if you want to pay it in 2006 so you can deduct it.
2006-12-28 06:25:45 · answer #1 · answered by acmeraven 7 · 1⤊ 1⤋
If you charge the bill on your credit card then you can deduct it in 2006 regardless if you pay your credit card bill in 2006 or 2007.
Credit card charges are treated as having paid cash by the IRS.
Now this assumes you have enough medical expenses to reach the 7.5% AGI floor.
2006-12-28 16:02:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
2007. The year the bill is paid is what counts.
2006-12-28 16:10:51 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
When you pay is when you deduct it. If you pay by credit card then you are considered to have paid when you charge the cost not when you pay the credit card company.
2006-12-28 15:32:25 · answer #4 · answered by waggy_33 6 · 3⤊ 0⤋
If you pay in Jan 07 then it's in '07. If you want it to be in '06, you need to make the payment now.
2006-12-28 15:33:41 · answer #5 · answered by Sun and Sand 3 · 0⤊ 0⤋
When you pay it is when it is considered a deduction.
If you use a credit card, it is when the transaction is processed.
2006-12-28 14:52:09 · answer #6 · answered by Molly 6 · 1⤊ 0⤋