turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Sean0104
New Member

Tax deductions

I'm having dental implants put in my credit wasn't good enough to qualify for the loan so my dad co-signed for me so the bill is in his name but I make all the payments can I claim the payments on my taxes. 

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
Opus 17
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Tax deductions

Dental implants are allowed as a tax deductible medical expense.  You deduct the expense in the year you pay the provider.  So if you took out a loan for (let's say) $10,000 from a bank, paid the provider $10,000, and are paying the bank $100 per month, you can list the full $10,000.  However, if you have a payment plan with the provider, and are paying the provider $100 per month, you can only deduct what you actually paid this year.

 

You can list your schedule A itemized deductions like mortgage interest, property taxes, gifts to charity and medical expenses.  However, you may not actually get a tax break.  It depends on your overall income and all your deductible items.  Turbotax will do the calculations for you if you use the program. 

View solution in original post

1 Reply
Opus 17
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Tax deductions

Dental implants are allowed as a tax deductible medical expense.  You deduct the expense in the year you pay the provider.  So if you took out a loan for (let's say) $10,000 from a bank, paid the provider $10,000, and are paying the bank $100 per month, you can list the full $10,000.  However, if you have a payment plan with the provider, and are paying the provider $100 per month, you can only deduct what you actually paid this year.

 

You can list your schedule A itemized deductions like mortgage interest, property taxes, gifts to charity and medical expenses.  However, you may not actually get a tax break.  It depends on your overall income and all your deductible items.  Turbotax will do the calculations for you if you use the program. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies