I incurred several thousand dollars in medical expenses in Late December 2019 due to a hospital stay and surgery. All these expenses were paid in 2020. Should these expenses be deducted for 2019 or 2020. Thank you for a quick answer.
WILLiam
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You deduct medical expenses in the year that you pay them.
Only medical expenses in excess of 7.5% of your Adjusted Gross Income (AGI) are deductible. (Enter the full amount that you paid in TurboTax. TurboTax will subtract 7.5% of your AGI.) In addition, medical expenses are an itemized deduction. They will not reduce your tax or increase your refund unless your total itemized deductions are more than your standard deduction.
Medical expenses are deductible when paid, not when the expense was incurred. So, in your case, you would deduct the expenses on your 2020 tax return.
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