Skip to main content
June 2, 2019
Question

Should I have mentioned medical debt when filing my taxes?

  • June 2, 2019
  • 1 reply
  • 0 views
No text available

1 reply

Employee
June 2, 2019

Not necessarily.

Medical expenses you paid in 2018 are an itemized deduction. They must exceed 7.5% of your AGI before they appear as a deduction on your tax return. Your itemized deductions must exceed the standard deduction ($12,000 for single filers, $24,000 for married) before there is an impact.

You also don't need to report outstanding balances of debt.