Medical expenses... Ok, have a question. I was told I can deduct these expenses but I'm not so sure.
In 2013 I had to pay 20k of medical bills that were due to an accident. I paid this out of my own pocket. However, I got money from both my auto and the lady who hit me insurance companies. They paid me directly. I had to pay the Health Insurance company directly because they did not put a claim in on time to get the money before it was given to me. So they were going to sue me for 53k but negioated it down to only 20k. I was given 33k by my insurance (under insured protection) and 33k by hers due to the amount of damage she did to me and my vehicle.
My question is this. can I deduct the 20k on my taxes. I only had to pay this because I have a self funding health plan at work. If we didn't have this I would not have had to pay any of this back.
Thanks in advance. |