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Level 1

Question

Can I deduct what I paid for Medicare Part D drug coverage?

Forum|Forum|4 years ago
February 9, 2022
3 replies
0 views

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TurboTax Free Edition Online

Level 15

Your Medicare Part D premiums are a deductible medical expense. Only medical expenses in excess of 7.5% of your Adjusted Gross Income (AGI) are deductible. (Enter the full amount that you paid in TurboTax. TurboTax will subtract 7.5% of your AGI.) In addition, medical expenses are an itemized deduction. They will not reduce your tax or increase your refund unless your total itemized deductions are more than your standard deduction.

NOTE: If your Medicare Part D premiums are shown on your SSA-1099, enter them only on the SSA-1099 screen. TurboTax will automatically include them in your deduction for medical expenses. Do not enter the premiums again in the medical expenses section.

Level 10

Yes, premiums for Part D (voluntary prescription drug insurance)—are deductible.

For more details on Medicare premiums, see this help article Can I deduct Medicare premiums?

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Level 10

Yes, premiums for Part D (voluntary prescription drug insurance)—are deductible.

For more details on Medicare premiums, see this help article Can I deduct Medicare premiums?

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"