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Level 2
June 3, 2019
Question

What type of insurance plan is ours? We both have medicare supplement plans with USAA. I paid 2355. and Glenn paid 2732. in 2016. How do I show that?

  • June 3, 2019
  • 2 replies
  • 7 views
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2 replies

Level 15
June 3, 2019

The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical expenses that will count toward itemization for someone under 65 is the amount that is OVER 10% of your adjusted gross income; for someone 65 or older it would be the amount over 7.5% of your AGI.  

You should only enter the amount that you paid in 2016—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.

To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses

Note:  If you are paying your Medicare premiums from your Social Security benefits, the amount taken out of your SS flows automatically to the Medical Expense section of TurboTax when you enter your SSA1099.  You do need to enter your supplemental premiums as medical expenses.  As SweetieJean mentioned, you really do not have to worry about what "category" to enter them into under Medical, as long as you enter them.  TurboTax will calculate whether you are able to get the medical expense deduction.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
DoninGA
Level 15
Level 15
June 3, 2019

Medicare supplemental health insurance premiums paid with out of pocket funds and not reimbursed are entered on Form 1040 Schedule A as a Medical expense itemized deduction.

However, only your total medical expenses that are greater than 10% of your Adjusted Gross Income (AGI) can be deducted if you are under age 65.  If you are age 65 or older the AGI limit is 7.5%.  Your total itemized deductions reported on Form 1040 Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.

Standard deductions for 2016 

  • Single - $6,300 add $1,550 if age 65 or older
  • Married Filing Separately - $6,300 add $1,250 if age 65 or older
  • Married Filing Jointly - $12,600 add $1,250 for each spouse age 65 or older
  • Head of Household - $9,300 add $1,550 if age 65 or older

To enter your medical expenses -

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Deductions and Credits
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Medical
  • On Medical Expenses, click the start or update button

Or enter medical expenses, sch a in the Search box located in the upper right of the program screen.  Click on Jump to medical expenses, sch a

Alumni - Champ
June 3, 2019
State deductibility may be different.