Submitted By: someone
Answered: November 15, 2017 9:14 pm

My medical costs were paid by the Christian Health Care Ministries Program. Can I deduct these costs?

Christian Health Care Ministries Program is a faith-based cost-sharing program for medical expenses. Payments from the program are treated like insurance reimbursements, so because your medical expenses have been covered, you have no out-of-pocket costs to deduct.

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Tax Glossary

Section 1231 property

Depreciable property used in a trade or business and held for more than a year. All Section 1231 gains and losses are netted; a net gain is treated as capital gain, a net loss as an ordinary loss.

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