turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Deciphering Your Tax Forms on Feb 19! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

amtheisen
New Member

I have a lot of medical expense this year (2016). Unfortunately I won't get all bills till 2017. Can I pay out of pocket in 2017 for 2016 expenses & claim on taxes?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

6 Replies

I have a lot of medical expense this year (2016). Unfortunately I won't get all bills till 2017. Can I pay out of pocket in 2017 for 2016 expenses & claim on taxes?

You can only deduct in 2016 the payments you actually make in 2016  ... so if you know you will owe a doctor you can pay them even if you don't have a bill yet. The expenses are deducted in the year they are paid not billed. 

I have a lot of medical expense this year (2016). Unfortunately I won't get all bills till 2017. Can I pay out of pocket in 2017 for 2016 expenses & claim on taxes?

Yeah, I would try to get them paid in 2016.  You can only deduct the amount OVER 10% of your AGI so you should get them all lumped together in the same year so you have enough to deduct.

I have a lot of medical expense this year (2016). Unfortunately I won't get all bills till 2017. Can I pay out of pocket in 2017 for 2016 expenses & claim on taxes?

You can charge them on a credit card in 2016, even if you do not pay that cc until 2017.

I have a lot of medical expense this year (2016). Unfortunately I won't get all bills till 2017. Can I pay out of pocket in 2017 for 2016 expenses & claim on taxes?

7.5% of AGI if age 65+

I have a lot of medical expense this year (2016). Unfortunately I won't get all bills till 2017. Can I pay out of pocket in 2017 for 2016 expenses & claim on taxes?

The threshold changes to 10% of AGI if age 65+ for tax year 2017. This is another reason you may want to try to pay as many expenses as possible in 2016.

I have a lot of medical expense this year (2016). Unfortunately I won't get all bills till 2017. Can I pay out of pocket in 2017 for 2016 expenses & claim on taxes?

Good point.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question