Availing HRA Medical Income Tax Benefit

by Rajneesh Kapoor
(Pune)

Availing HRA Medical Income Tax Benefit Question

Hi, I've bought a flat whose possession is due in Jan 2012. Its distance from my office is around 35 kms, thereby making daily commutation difficult for me; hence I had decided to keep the flat locked after possession and stay in a rented flat near my office.

Also, my office comes under Pune Municipal Corporation and flat is under Maval Nagar Parishad.

Query : Can i avail HRA exemption also along with tax benefits on home loan repayment?

Disability Question

by Daryl
(New York)

I live in New York and currently am on Social Security Disability and a single parent. Even though SSD is not taxable,can I still file to claim the Earned Income Credit for my 17 year old daughter?

Fund Raising For Medical Expenses

A person has been going through cancer treatment and the community did a fund raising campaign for expenses and the fund was set up at a local bank. What are the tax consequences to the recipient who receives these funds?

Health Insurance Premiums

I work for a school district and I pay for my daughters and myself health insurance. Are the premiums covered? What are forms do I need? And where would I put the expense?

HRAs/HSAs

My wife's employer (education system) has recently went to a high-deductible health insurance policy. They are making a HRA contribution of $1,750 with all funds contributed coming from her employer. With it being a single policy and 2010 IRA maximum contribution limit being $3,050 for 2010, can she set up a HSA for the remaining balance?

HSA ? Still a penalty for withdraw if you have an out of pocket expence the same calendar year?

Is there a penalty for an hsa withdraw? When you have an out of pochet expence (post tax)the same calendar year?

Imputed Income on Healthcare Benefits

Is the imputed income for healthcare benefits for a stepchild non- tax dependent federally taxed, stated taxed and FICA taxed?

Itemized Medical Expenses

by Linda
(Las Vegas, NV)

What percentage of the gross income is required in order to itemize medical expenses?

Medical and Long Term Care Insurance Deductibility

by Stu Farber
(Staten Island)

My wife is a retired teacher who pays for retiree medical benefits through pension deduction. She has been self employed as a provider of services for autistic babies for about 5 years. We also pay for Long Term Care independently.
Is the cost of either of these insurance premiums deductible?
Thanks

Medical Costs Paid For Friend Income Tax Question

by Amar
(Livermore Ca, USA)

Medical Costs Paid For Friend Income Tax Question

A friend of mine was waiting for her covered California insurance to be approved, while waiting she needed to see a dr. to get tests (MRI) and medication, which I paid for. She hasn't been reimbursed and the amount was a little over $3,000. Can I deduct that amount somehow on my return?

Medical Deductions

by Amy
(New York)

Can you claim only 2009 medical expenses, as I hadexpenses from 2008 that I did not claim? I was wondering if on my 2009 tax return if I can claim my dentist bill that I paid from 2008 and 2009.
Thanks!!

Hi Amy,

Great question, thanks. You can only claim expenses that you paid in the year that you paid them. If you had 2008 and 2009 expenses that were both paid in 2009, then you can claim them all on your 2009 tax return. If you had 2008 expenses that were paid in 2008, you cannot deduct them on your 2009 tax return. However, it may be worth it to do an amendment of your 2008 tax return to include the expenses not previously deducted.

Medical Exemption

Hi,

I've spent around 1 lakh for my brother's treatment. I am planning to claim that amount via medical insurance, I am paying for him (medi assit). Is it possible to show 15k from that as medical exemption for tax reduction?

Thanks in advance,
Babu

e.babuganesh@yahoo.com

Medical Expense

by Johnnie
(Winter Haven, Florida USA)

I purchased a wheelchair lift for my vehicle in October. Can I claim this as a medical expense on my federal income tax?

Medical Expenses

by Pat
(Arizona)

Will I get back the majority of my medical expenses back on my Arizona state tax refund?

Medical Expenses on Individual Return

by Tom
(London)

When claiming medical expenses on a individual tax return there is the 12 month period where you claim the expenses.Would you be able to claim for the year of 2008 instead of 2009?

I did not know that you were able to claim these expenses till now. Also can you go back years to claim expenses not claimed?

Thanks Tom

Hello Tom,

Thanks for your inquiry. You can only claim expenses in the year they were paid. However, you can go back (up to three years) and amend your 2008 tax return to include 2008 expenses not previously deducted.

Nursing Home Care

by Rick
(Illinois)

Over the past few years, my father-in-law gifted my wife and I around $12,000 per year. He is now in a nursing home and we are assisting with the expenses to the tune of about $2500 per month. This began in October of 2011. Can we deduct what we have paid from our Federal Income Tax?

Medicare Premium

Is the amount deducted from social security for medicare tax deductable along with other insurance premiums?

Medicare Question

Can you deduct monthly charges that medicare takes out of our monthly social security?

Mediclaim

My question is about Mediclaim. Is the Mediclaim money that I received taxable to me? Or is the Mediclaim money that I received not taxable to me? If the Mediclaim I received is not taxable and I didn't receive any other income, does that mean that I do not have to file a tax return? If I do have to file a tax return, how or where should I report my Mediclaim earnings? Thank you so much for your help with answering my question.

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