Solved
Medical Deductions
Can you take the full (allowable) deduction for hearing aid expenses paid to a Doctor in the tax year they are incurred even if you are financing that amount over multiple subsequent years to pay it off?
Expert Reviewed
Yes, you can claim the full amount of the hearing aid expenses in the year that they were paid to the provider. Even though you are financing the cost, it is considered to have been paid in full through the financing arrangement.
Just be sure that you do not claim the amounts paid in subsequent years to pay off the debt.
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