associated with the transaction as a medical expense on schedue A?
2007-04-18 08:01:19 · 4 answers · asked by juslow 1 in Business & Finance ➔ Taxes ➔ United States
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.
2007-04-18 10:13:27 · answer #1 · answered by JQT 6 · 0⤊ 0⤋
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.
2007-04-18 22:33:50 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
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.
2007-04-18 15:04:17 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
NO..and only the amount of the medical expense that exceeds 7.5% of your AGI is deductible.
2007-04-18 15:35:32 · answer #4 · answered by brenden b 2 · 1⤊ 0⤋