Yes, if you itemize deductions (Schedule A), you can include your out-of-pocket COBRA payments as a medical expense. The deduction for qualified medical expenses is limited to the amount in excess of 7.5% of your adjusted gross income (AGI).
To enter your out-of-pocket COBRA payments:
- Continue your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
- Click the drop-down arrow next to Tax Tools (lower left of your screen).
- Select Tools.
- In the pop-up window, select Topic Search.
- In the I'm looking for: box, type medical expenses.
- In the results box, highlight medical expenses, sch a, then click GO.
- Follow the onscreen instructions. Medical expenses are divided into numerous categories, so you will go through several screens before you enter your COBRA payments. (The categories are: prescription medications, medical professionals, medical facility fees, x-ray and lab work fees, long-term care services, eye care expenses, medical supplies and equipment, medical travel, insurance premiums, and other medical expenses.)
Can I deduct medical, dental, and vision expenses?
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