bell notificationshomepageloginNewPostedit profiledmBox

Hoots : Financed medical expenses and tax deductions I am currently making payments on a ~4k loan that was paid directly to the doctor for laser eye surgery. Can I deduct the 4k loan as a health expense? Or the payments I am making - freshhoot.com

10% popularity   0 Reactions

Financed medical expenses and tax deductions
I am currently making payments on a ~4k loan that was paid directly to the doctor for laser eye surgery.

Can I deduct the 4k loan as a health expense? Or the payments I am making on the loan? Or nothing at all?


Load Full (1)

Login to follow hoots

1 Comments

Sorted by latest first Latest Oldest Best

10% popularity   0 Reactions

You deduct expenses when you incur them (when you pay the hospital, for example). Medical expenses are deducted on Schedule A, subject to 7.5% AGI threshold. Financed or not - doesn't matter. The medical expense is deductible (if it is medically necessary), the loan interest is not.


Back to top Use Dark theme