For a prescribed stair lift that was paid for in late 2022 AND early 2023, do I deduct only the payments made in 2022? If so, to select 2022 payments, should I use the "transaction dates" on the credit card statement or the actual "autopay" payment dates?

[John WD]

Is this question being received and addressed by the Special Event Forum? The navigation is unclear to me.

[Katherine S 63]

Great question and it is fine that you entered our question here!!

This link will talk about medical expenses that are deductible:

https://turbotax.intuit.com/tax-tips/health-care/can-i-claim-medical-expenses-on-my-taxes/L1htkVqq9

You will only deduct was was paid in 2022.  I would think that the date that the transaction posted your account would be  the date used.  

I sure hope this has helped.

If you reply back, I will try to keep an eye open to assist further.

Please give me a thumbs up if this was helpful.

Katie S.

[John WD]

Thank you, Katherine. Could you provide more confidence that the dates to be used are the dates of posting to the credit card as opposed to the autopay date for the credit card bill?

Also, I have a second question: My wife's eye doctor (a refractive-cataract specialist) recommended that she use Muro128 to fend off cataract surgery. Muro128 does not require a prescription (at one time, it did). Is it tax deductible?

[Katherine S 63]

I am chuckling because yes, when I said "I woudl think" that does not give much confidence!!! I apologize.

Yes, you would use the date that it posts your account as a transaction.

You typically can't deduct the cost of nonprescription drugs (except insulin) or other purchases for general health, such as toothpaste, health club dues, vitamins, diet food and nonprescription nicotine products. You also can't deduct medical expenses paid in a different year.

If you reply back, I will try to keep an eye open to assist further.

Please give me a thumbs up if this was helpful.

Katie S.

[John WD]

Katherine:

The reason I ask about which date to use is that they are typically almost two months apart for each transaction. For example, a posting on Nov 12, 2022 didn't get "auto-payed" until Jan 15, 2023. A payment for the Dec 12, 2022 posting didn't get "auto-payed" until Feb 15, 2023. 

[xmasbaby0]

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