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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?

 
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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.

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