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Jim Revels
Jim Revels, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 210
Experience:  Providing income tax / planning services for over 16 years on all entity and individual tax issues
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If I have medical bill of $25,000.00 for the year of 2007 ...

Resolved Question:

If I have medical bill of $25,000.00 for the year of 2007 must I take the deduction all a once or can I carry over some of it into 2008?
Submitted: 8 years ago.
Category: Tax
Expert:  Jim Revels replied 8 years ago.

Thank you for choosing Just Answer. You are deemed to be a cash basis taxpayer. Therefore you medical deductions should corrispond to the year in which you actually made the payment. Accordingly, if you made the payments in 2007 then you must take the deduction in 2007.

 

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