If a medical expense is paid with a cash advance can I deduct the fees and interest?
juslow asked:
associated with the transaction as a medical expense on schedue A?
4 Responses to “If a medical expense is paid with a cash advance can I deduct the fees and interest?”
As long as you paid the bill in 2006 you can deduct it on your 2006 return. How you got the money to pay the bill doesn't matter.
NO..and only the amount of the medical expense that exceeds 7.5% of your AGI is deductible.
As the previous answer described, only the amount of medical expenses exceeding 7.5% of your adjusted income can be deductible on Schedule A.
You can include actual medical expenses only not interests or fees associated with obtaining the money for medical expenses.
Best wishes.
You can deduct the medical expense, it doesn't matter where you got the money as long as it wasn't reimbursement to you, but not the interest.