In 2020, I have full mouth dental implants done costing $ 26,000. I financed $20,000 of this cost thru a private lender and care credit. Can I deduct the whole cost of the dental work since the dentist was paid in full directly by the private lender and my Care Credit card?
Yes you can.
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 2020—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