During 2015, Jay charged $5,000 on his credit card for his dependent daughter's medical expenses. Payment to the credit card company had not been made by the time Jay filed his income tax return for 2016. However, in 2016, Jay paid a physician $3,200 for the medical expenses of his wife, who died in 2015. Disregarding the adjusted gross income percentage threshold, what amount could Jay claim in his 2016 income tax return for medical expenses?
$0
x $3,200
$5,000
$8,200
You Answered Incorrectly.
This answer is incorrect. The $5,000 credit card charge is deductible for 2015.
How would you include the $5000 on the 2016 return if it was charged in 2015, which is when it's considered paid? Is this an error in the question? It would make sense if they were asking if it was deductible for the 2015 return even though the credit card bill was paid in 2016.
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