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New Member
posted Dec 31, 2022 1:19:12 PM

If I do not have actual medical bills or receipts anymore but I have a bank statement and EOB showing amount paid, does that qualify as proof of payment?

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3 Replies
Level 15
Dec 31, 2022 3:41:19 PM

Those documents are fine. Remember that you can only deduct total medical expenses that are greater than 7.5 percent of your AGI and only if you itemize. 

Level 15
Dec 31, 2022 4:40:07 PM

MEDICAL EXPENSES

The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical (including dental, vision, etc.)  expenses that will count toward itemization is the amount that is OVER 7.5% of your adjusted gross income. You should only enter the amount that you paid in 2022—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.

 

To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses

 

 

2022 STANDARD DEDUCTION AMOUNTS

 

SINGLE $12,950  (65 or older + $1750)

 

MARRIED FILING SEPARATELY $12,950  (65 or older + $1750)

 

MARRIED FILING JOINTLY $25,900  (65 or older + $1400 per spouse)

 

HEAD OF HOUSEHOLD  $19,400  (65 or older +$1750)

 

Legally Blind + $1750

Level 15
Dec 31, 2022 4:51:05 PM

regardless of the year the medical expense was incurred, you can only include what you actually paid in that year.  also, if you pay a bill up front and deduct it and in the following year you are reimbursed, that reimbursement is taxable income to the extent it produced a tax benefit.