Tax experts...

[Quiver0f10]

First off this is embaressing, :blushing: but we have a pile of medical bills from the last 18 months that we are planning on paying off with our tax return/end of the year bonus. The amount is = @ 10% or more of our AGI. We will be able to claim this, or whatever you call it, as medical expenses on our 2009 taxes even though the actual date of the bills are 2007/2008?

 

The great thing is once these are paid off we will finally be 100% caught up on all our debts!!! It's been a long road, but it feels wonderful now that the end is in sight!

[LisaKinVA]

For your 2007 bills, you can go back and make an amendment to the taxes you filed last year (in 2008, you filed taxes for 2007), and itemize those to claim them.

 

For your 2008 bills, you can itemize them on your 2008 taxes, which you will file in 2009.

 

In each case, they must be a certain percentage of your AGI... (that percentage, though, eludes me -- and my IRSman dad who has been working in the money laundering dept. for so long he doesn't remember).

 

Lisa

[G5052]

Regardless of the date of the bill or when it actually occurred. Your check and the bill together serve as documentation of each expense. You can also count your medical insurance costs if they are not taken out before taxes are taken out of his check.

 

We used to do this every year, but now DH has a flexible spending account where the $ is taken out before taxes, so we have the tax benefit that way with different paperwork (i.e. I submit insurance statements/bills for procedures/drugs during that year). When I pay it is not a factor. Our health insurance is also deducted before taxes are calculated, so we can't include that either.

 

Link to IRS: http://www.irs.gov/taxtopics/tc502.html

[Quiver0f10]

Thank you, both.

[angela in ohio]

Yes, you claim it the year you paid it.

 

And congratulations!! :)