I took a loan to pay large medical bills. Can I deduct the loan’s installment payments?

You may qualify to itemize your medical expenses. Look at the medical bills you’ve paid to determine what is deductible. The manner in which you came up with the funds (e.g., a loan, a credit card charge, etc.) does not affect the deduction. Interest on the loan is not deductible because the proceeds have been used for personal purposes.