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Cross posted from the LBYM board:

Here's the source, it's only a few threads ago.

http://boards.fool.com/Message.asp?mid=18988203

When I first read this, for some odd reason I thought it was a TAX question. Now that I've dusted off my glasses, I can see it's not, and unfortunately I have no helpful advice to offer MsPoppy (sorry!).

But I have a different question: when claiming medical expenses as a TAX DEDUCTION (which I have never done...), is what you claim supposed to be the full amount of the bill, or just your out-of-pocket expenses (co-pay)?

I've always assumed the latter, so never bothered to pursue it, but MsPoppy's post makes me want to ask - just to be sure.


You claim your NET expense. If your insurance coverage only requires co-pays, that's all you claim. If you pay the doctor in full and get reimbursed by the insurance company, you claim the net out-of-pocket expense. Of course, none of this provides any tax benefit until the total out-of-pocket exceeds 7.5% of your AGI.

Ira
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