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billpat66
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I had dental expenses of 15000 in Dec 2021 but did not claim it can I claim it in 2022?

 
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I had dental expenses of 15000 in Dec 2021 but did not claim it can I claim it in 2022?

Medical/Dental expenses paid in 2022 can be entered on a 2022 tax return.

 

Health care insurance premiums and other medical expenses that you paid with out of pocket funds are an eligible medical expense that you can deduct using Schedule A for itemized deductions. However, only your total medical expenses that are greater than 7.5% of your Adjusted Gross Income (AGI) can be deducted. Your total itemized deductions reported on Form 1040 Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.

 

Standard deductions for 2022

  • Single - $12,950 add $1,750 if age 65 or older
  • Married Filing Separately - $12,950 add $1,400 if age 65 or older
  • Married Filing Jointly - $25,900 add $1,400 for each spouse age 65 or older
  • Head of Household - $19,400 add $1,750 if age 65 or older

To enter your medical expenses -

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Deductions and Credits
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Medical
  • On Medical Expenses, click the start or update button

Or enter medical expenses in the Search box located in the upper right of the program screen. Click on Jump to medical expenses

I had dental expenses of 15000 in Dec 2021 but did not claim it can I claim it in 2022?

Medical and/or dental/vision expenses can be entered for the tax year in which you PAID the bills.  Those expenses do not affect your refund or tax due unless you have enough to meet a threshold to enter them and then enough other itemized deductions to exceed your standard deduction.   If you paid the dental bills in 2021 you enter them on a 2021 tax return.  If you paid them in 2022 you can enter them for 2022.

 

 

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

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

I had dental expenses of 15000 in Dec 2021 but did not claim it can I claim it in 2022?

You can not claim it in 2022 if you paid it in 2021.  When or how did you pay it?

 

Medical is deductible the year when you pay it.  If paid by check, it would be when you gave the provider a check. You can only deduct the payments you made but not any interest.

 

If by credit card, it would be when the charge was made. Putting it on your credit card is the same as paying it.  You can deduct the full amount.  But you can't deduct any interest or penalties you paid on it.

 

If you put it on a credit card or took out a loan you can deduct the full amount even though you pay it over time. If you are on a payment plan with the hospital or doctor, etc. then it's only the amount you pay. Either way you only can deduct the principal amount, not any interest.

 

 

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