Hey Everyone,

I've been reading through the rules for deducting the cost of lap band surgery on my taxes and my only question is:

If I am paying for the cost of surgery with a credit card (CareCredit) can I still deduct the cost? Since it's basically a loan I wasn't sure if that still counted...I know this may be a stupid question but I just wasn't sure.

Thanks!

I think it is a bit complicated and you might lose a great deal of your tax benefit. I would call the 800 IRS number and talk to them for accurate advice. Please let us know what you find out.

Mimi

I know I am using it on my taxes. I paid for it in the same way u did, just through a different company.

No matter how u pay, the fact is YOU paid. It is a medical expense out of your pocket.

Yes, it is considered paid the year you incur the debt. (Same as if you put a charitable contribution on your credit card on 12/31, that is a deductible contribution for that year.)

The following quote is from the IRS Pub 502, Medical and Dental Expenses, 2008

If you use a credit card, include medical expenses you charge to your credit card in the year the charge is made, not when you actually pay the amount charged.

Great information, thanks.

Mimi

Thank you everyone! I appreciate the info! That makes a lot of sense and it's what I was thinking, but I just wanted to make sure I was on the right page. Thanks again!:thumbup: