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I was in a car accident and incurred 7600 in medical bills not including my copays I had already paid and prescription costs. Since it was related to a car accident my medical insurance demanded I reimburse them.I received a settlement from the at fault parties auto insurance company. And with some of that money I was able to repay my medical insurance provider. Does that money I had to reimburse count as tax deductible medical expenses or am I asking for it if I claim that?

2007-04-04 15:34:34 · 2 answers · asked by LanaRene 2 in Business & Finance Taxes Other - Taxes

2 answers

No, you can only deduct unreimbursed medical expenses. You received reimbursement from the other parties insurance so it is NOT deductible.

2007-04-04 17:48:29 · answer #1 · answered by Bostonian In MO 7 · 2 1

If .what you received was a settlement that you used to pay your medical expenses the answer is your medical expenses are deductible but the settlement counts as income. Make sure you if you had unreimbursed medical expenses that you paid out of pocket that you itemize those.

2007-04-04 22:42:53 · answer #2 · answered by Jackie Oh! 7 · 2 2

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