So you can deduct medical bills on your tax returns if they exceed 7.5% of your income. Sounds great right?
Well if your insurance and the billing companies drag their feet from April into the next year, and you already paid some bills in the previous year, and they decide to bill you for in January, you CANT claim those bills on last year’s tax return.
So instead of getting to deduct for paying over 7.5% of my income in 2021 I’m paying 12% of my income, broken up over 2 years, and can’t deduct any of it, even though all my medical bills were in 2021.
submitted by /u/BroManDudeGuyPhD
[link] [comments]So you can deduct medical bills on your tax returns if they exceed 7.5% of your income. Sounds great right? Well if your insurance and the billing companies drag their feet from April into the next year, and you already paid some bills in the previous year, and they decide to bill you for in January, you CANT claim those bills on last year’s tax return. So instead of getting to deduct for paying over 7.5% of my income in 2021 I’m paying 12% of my income, broken up over 2 years, and can’t deduct any of it, even though all my medical bills were in 2021. submitted by /u/BroManDudeGuyPhD [link] [comments]Read Morer/HealthInsurance