medical financing
Can you deduct medical finance loans?

Say I had laser eye surgery done that cost $5,000 and got a loan to finance. Can I count a $5,000 amount into factoring a medical deduction ($5,000 – 7.5%*income) on my taxes? Or can I only count the amount that I’ve payed back on the loan? Or can I not even count anything towards a deduction since I took out the loan?

You would have to start a business. Then pay health insurance premiums and medical bills out of a business checking account. You would then be able to deduct on the Schedule C, Form 1120, 1120-S {may be} or Form 1065 {may be}. You would only be able to deduct the premiums and the bill, not the interest. Not as of 1982. Hope this helps.

My Medical Loan