Yes. The amount paid which does include any amount paid with your loan (you are responsible for the repayment and you used it for dental expense) can be used and deducted as a medical expense in 2023, the date of the payment.
Medical expenses are limited to the total amount that exceeds 7.5% of your adjusted gross income, then added to other itemized deductions, The total itemized deductions will benefit you if they are greater than your standard deduction. Other deductions include mortgage interest, real estate tax, local tax, personal property tax, and contributions which are the most common.
2023 Standard Deductions The 2023 standard deduction increases to:
• $13,850 for single taxpayers and married taxpayers who file separate returns.
• $27,700 for Married couples filing jointly
• $20,800 for Heads of household
@JJC
[Edited: 02/12/2024 | 5:29 AM PST]
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