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kate309
New Member

Can i claim loss when insurance reimbursement is less than my fee? I charge $125 per hour and insurance reimburses me $60

I am a therapist and charge $125 per hour 

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Opus 17
Level 15

Can i claim loss when insurance reimbursement is less than my fee? I charge $125 per hour and insurance reimburses me $60

No.  Your "loss" is the fact that you have less taxable income to pay tax on.   You already pass less tax -- you can't take a deduction from income you don't get.  

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

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Opus 17
Level 15

Can i claim loss when insurance reimbursement is less than my fee? I charge $125 per hour and insurance reimburses me $60

No.  Your "loss" is the fact that you have less taxable income to pay tax on.   You already pass less tax -- you can't take a deduction from income you don't get.  

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

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