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Submitted By: someone
Answered: November 15, 2017 9:14 pm
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
Accelerated cost recovery system (ACRS)
A statutory method of depreciation allowing accelerated rates for most types of property used in business and income-producing activities during the years 1981 through 1986. It has been superseded by the modified accelerated cost recovery system (MACRS) for assets placed in service after 1986.
