Husband receives WCB Pension which he was granted a large amount of in late Dec 2018 for dental procedure. Due to timeline it was received (Christmas/New Years) Surgeon/practicioner was unable to due procedure till early Jan 2019. Now we have a huge "income" ($30,000.) increase to our low income (aprx. $30,000) and may lose needed benefits if we can not write off this expense ($29,000)
1) Is there any way we can claim this expense despite it taking place in Jan 2019?
We do not estimate our income 2019 will be much more than current aprox amount.
2) If our annual income is around $30,000 are we able to claim $29,000 expense?
3) can we even claim that much of an expense!?!?!
Thanks in advance
Unfortunately, there is no way to claim those Medical Expenses which were incurred in 2019 on your 2018 tax return.
Keep in mind that claiming those medical expenses is not going to reduce your income, which is what your benefits are based on. Claiming Medical Expenses on your tax return only reduces your tax payable and will have no effect on the benefit calculation. Sadly it looks like you are stuck with reporting that income on the 2018 tax return, and the medical expenses claim in 2019.
Unfortunately, there is no way to claim those Medical Expenses which were incurred in 2019 on your 2018 tax return.
Keep in mind that claiming those medical expenses is not going to reduce your income, which is what your benefits are based on. Claiming Medical Expenses on your tax return only reduces your tax payable and will have no effect on the benefit calculation. Sadly it looks like you are stuck with reporting that income on the 2018 tax return, and the medical expenses claim in 2019.
BNB2
New Member
jesse97lee1@gmai
New Member
jade-c
New Member
aocchialini-outl
New Member
tax37tax
New Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.