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Are grants from a 501c charity for medical expenses taxable income?

Forum|Forum|7 years ago
June 4, 2019
2 replies
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I have leukemia and the drug I take costs many thousands of dollars each month. My Medicare Advantage insurance takes care of most of it. However, the copay is over $500/month. There is no way I can afford that. I received a grant from Healthwell to cover the copay for 2015. They did no issue any kind of 1099, so is this medical assistance taxable? Thanks for your help.

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Best answer by Celery63

A gift received is not reportable or taxable.

C

Celery63Answer

A gift received is not reportable or taxable.

ScruffyCurmudgeon

Employee

However, you must reduce your reported medical expense deduction by the amount of the grant as if it were reimbursement

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