Skip to main content
Level 2
November 15, 2022
Question

Medicare IRMA Surcharge

  • November 15, 2022
  • 1 reply
  • 16 views

Is the IRMS Medicare Surcharge considered part of the premium for tax deduction purposes?

    1 reply

    Level 15
    November 15, 2022

    Yes. The total amount you pay for Medicare premiums is a medical expense deduction if you itemize. Only an amount of total medical expenses greater than 7.5 percent of your AGI can be deducted. 

    Level 2
    November 16, 2022

    Thanks for your reply but it doesn’t answer my question. I am self-employed and can deduct my health insurance premiums. The question specifically is - is the IRMA surcharge considered to be a part of the premium. 

    Level 15
    November 16, 2022

    Yes, it’s part of the deductible premium. If you file jointly and your spouse also has a Medicare premium that also can be deducted.