I have had a rough year for medical bills, have spent almost $10000.00 out of my pocket and still have about $1000 left to pay.
Would I be better off on my taxes to take money out of savings to pay off the rest of these bills this year or just make payments on into next year and claim it on next years taxes?

Just curious...

Any help would be appreciated...

Thanks

Steve

I would contact whomever prepares your tax returns, but it's my understanding that you need a percentage of your annual income to have the deduction qualify.
The larger amount may be sufficient to clear that threshold but consider tax savings as compared to lost interest. The difference may not be worth it.

I am not a tax expect but I believe the IRS rules allow you deduct only those amounts that exceed 2 % of your adjusted gross income. As to your state's regulations, if any, you would have to check with them or read their rules.