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If I didn't keep individual receipts for qualified medical expenses, will statements from my insurer regarding my out of pocket expenses (e.g EOBs') suffice for auditing?

 
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4 Replies

If I didn't keep individual receipts for qualified medical expenses, will statements from my insurer regarding my out of pocket expenses (e.g EOBs') suffice for auditing?

Well you should have credit card statements or bank statements showing the payments.  Or did you pay in cash?  

If I didn't keep individual receipts for qualified medical expenses, will statements from my insurer regarding my out of pocket expenses (e.g EOBs') suffice for auditing?

@joshshinkel - what you are trying to prove is that you paid the medical costs in the year submitted on your tax return. so really, the EOBs PLUS the credit card detail / cancelled checks are what you would need for an audit.  

 

Remember that only the medical costs that exceed 7.5% of your income are tax deductible....and that assumes you are itemizing your deductions. 

If I didn't keep individual receipts for qualified medical expenses, will statements from my insurer regarding my out of pocket expenses (e.g EOBs') suffice for auditing?

  • @VolvoGirl Yes, I should have credit card statements or bank statements.  I wasn’t sure if those would be good enough for auditing purposes. Thank you.  

 

 

 

 

If I didn't keep individual receipts for qualified medical expenses, will statements from my insurer regarding my out of pocket expenses (e.g EOBs') suffice for auditing?

 

 

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