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Do loans I incurred for dental expenses prior to 2019 count as a medical expense? And where would I enter?

 
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Do loans I incurred for dental expenses prior to 2019 count as a medical expense? And where would I enter?

The loan itself is not a deduction but paying medical expenses with the loan proceeds can be deducted as a medical expense if you itemize. 

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Do loans I incurred for dental expenses prior to 2019 count as a medical expense? And where would I enter?

Medical expenses are deductible when you pay the provider.  If you have a payment plan with the provider, then your 2019 deduction would be as much as you paid the provider in 2019. However, if you pay the provider in full in a previous year by taking out a separate loan, then the deduction would have occurred when you paid the provider, and paying off the loan is not deductible.

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3 Replies

Do loans I incurred for dental expenses prior to 2019 count as a medical expense? And where would I enter?

The loan itself is not a deduction but paying medical expenses with the loan proceeds can be deducted as a medical expense if you itemize. 

Do loans I incurred for dental expenses prior to 2019 count as a medical expense? And where would I enter?

Medical expenses are deductible when you pay the provider.  If you have a payment plan with the provider, then your 2019 deduction would be as much as you paid the provider in 2019. However, if you pay the provider in full in a previous year by taking out a separate loan, then the deduction would have occurred when you paid the provider, and paying off the loan is not deductible.

Carl
Level 15

Do loans I incurred for dental expenses prior to 2019 count as a medical expense? And where would I enter?

Borrowed money is not your money. It never was, is not now and never will be. Therefore borrowed money is not reported anywhere on your tax return.

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