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Treatment of reimbursement for previous year's medical expenses
Last year (TY 2023) we took the standard deduction, so we did not claim any medical expenses. This year (TY 2024), we are itemizing deductions and have enough medical expenses to include them. Early in 2024, the insurance company sent us a check for reimbursement of some medical expenses from 2023 (in response to a claim we submitted late that year). Do we need to reduce the amount claimed for 2024 medical expenses by the amount of the check?
Thanks!
Topics:
March 2, 2025
12:50 AM