Question

Medical Expenses

Forum|Forum|5 years ago
December 30, 2020
2 replies
0 views

Hello everyone!

So we had about $2,000 medical bills in 2019. I haven't paid them yet nor set up a payment plan. I understand that IRS allows to deduct medical expenses that are 7.5% or higher of my adjusted gross income. Well this is not met here. So if I paid this amount today using my credit card, is there anything I can take advantage of to lower my taxes for 2019?

DJS

Employee

No, there isn't any way to take advantage of the medical expenses unless you can itemize deductions and unless your medical expenses exceed 7.5% of AGI.

Answers are correct to the best of my ability but do not constitute legal or tax advice.**If this post is helpful please click on "thumbs up"**