Can medical expense incurred in December of 2017 but paid in 2018 via monthly interest free payments be deducted from current 2018 year taxes?
Large medical expense incurred ending with hosptial discharge Dec. 30 2017. Bill paid in 2018 via monthly interest free payments. Can this be used as a 2018 medical deduction? This question is for my 27 year old son who has a low income and we are planning on using med deductions for him this year given ongoing medical issues/expenses. Aware of the 7.5% rule.
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1 Best answer
Vanessa
Level 3
Jun 3, 2019 10:13:16 AM
Yes, if all other criteria to take the medical deduction are met, medical expenses are deductible in the year they are paid.
2 Replies
Vanessa
Level 3
Jun 3, 2019 10:13:16 AM
Yes, if all other criteria to take the medical deduction are met, medical expenses are deductible in the year they are paid.