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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