@mjoliver7402 wrote:
Thanks for the reply. I did see in publication 502 that artificial teeth are specifically mentioned as deductible. However, you stated only what I pay towards finance company is deductible as opposed to the financed amount. Your statement is in conflict with Turbo tax's statement, unless I'm misunderstanding.
Turbo Tax statement-
"Qualified medical expenses do not need to be incurred in the current year. For example, if you got a root canal at the end of December but didn't pay for it until January of the current tax year, that root canal is a qualified medical expense for the current year."
What am I missing?
The question is "who are you paying."
You deduct the expense when the provider is paid. If you are financing with the provider, then you are paying the provider a little at a time, and can only deduct what you paid the provider. If you are financing with a finance company, the finance company pays the provider, and you pay off the finance company a little at a time. You can deduct the entire amount because the provider was paid in full.
