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Are my health care premiums a deduction? My insurance is not through my employer and i pay it out of pocket every month.
June 3, 2019
5:35 PM
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Get your taxes done using TurboTax
Yes - Your health care premiums are deductible as a medical expense. Please keep in mind the following about deducting your medical expenses:
- You don't get the benefit if you are taking the standard deduction.
- If you itemize deductions, you will only be able to take total medical expenses that are greater than:7.5% of your adjusted gross income if you are age 65 or over (born before January 2, 1951).
To edit your medical expenses in TurboTax, please follow these steps:
- Click on Federal > Deductions & Credits
- In the Medical section, click on the Start/Revisit box next to Medical Expenses.
- TurboTax will then ask you if your total medical expenses exceed a certain number. [That's the 7.5% AGI mentioned above.]
- If you think your total medical expenses will exceed that number, continue through the interview, entering the requested information on your medical expenses.
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June 3, 2019
5:35 PM