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| George <gbeccles[at]gmail.com> wrote: - quote - > We are in a complicated dispute over an old hospital bill.
It seems to me that what you pay the hospital is a medical> We will end up paying something, though it's not at all > clear how much. If we pay now, I assume it would be a > deductible medical expense. If they went to court and got a > judgement against us, would that payment still be > deductible? > Would it be different if we 'settled' with them after they > filed their claim? expense. If it goes to court, and the judge rules "Pay the hospital $5000, pay $1000 court costs, and pay the hospital's lawyer $10,000" then only the $5000 to the hospital is a medical expense. Seth << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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| "George" <gbeccles[at]gmail.com> wrote - quote - > We are in a complicated dispute over an old hospital bill.
It all sounds like a medical expenses, with exceptions for> We will end up paying something, though it's not at all > clear how much. If we pay now, I assume it would be a > deductible medical expense. If they went to court and got a > judgement against us, would that payment still be > deductible? > Would it be different if we 'settled' with them after they > filed their claim? your legal costs, so deduct away if you have to pay something. -- Paul Thomas, CPA paulthomascpapc[at]bellsouth.net << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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| We are in a complicated dispute over an old hospital bill. We will end up paying something, though it's not at all clear how much. If we pay now, I assume it would be a deductible medical expense. If they went to court and got a judgement against us, would that payment still be deductible? Would it be different if we 'settled' with them after they filed their claim? Thanks, George << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| deductible, judgements or settlements, legal |
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